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Magnum Hunter Resources Corp. Message Board

  • slabman1 slabman1 Sep 13, 2013 11:32 PM Flag

    WARRANTS-what did they accomplish?

    I think it's fair to say Gary got the best of some of the shorties, although it appears there are still waaay too many still out there. This move definitely propelled the stock price past the 5 dollar mark and despite the relatively lower volumes these past couple days, the price seems to be holding. I have mixed feelings on whether it'd be nice to see a little retreat so I can buy back more or whether I should just be thankful it's again reached these levels. But that's not up to ME, of course.

    Somehow, I think we've not seen the last of the influence of these short guys and there will continue to be tests of sustainability as we go forward. Whether we re-test the $4 mark again, I don't know, but if Gary can continue to have success and offer more positive announcements without creating significant new debt, we should continue that sustainable upward trend all of us have been seeking since 2009. But if you look at the growth curve and exclude that runup into the 8's (you know...the one the wife always remembers and keeps mentioning to me), we have had a nice run and we ain't done yet. So....continue the debt reduction, build out staffing to properly support the operation, report financials in a timely manner (Thanks, BDO!), sell off the non-core stuff, block up more contiguous acreage, come up with a couple of great Utica wells and we're off and running. Oh, and did I mention that pipeline? So...hang in there for the big reward and don't be like me, trying to play too many games by trying to time price movements! LOL!

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    • When a sector is running, we all look like geniuses, but often the impetus is to follow what worked before and sell too quickly. Then where ya gonna go that hasn't already run too? The whole sector is on fire now and beginning to move as a group. So jumping from ship to ship may not get you there any faster than a direct cruise.

      On the other hand, Magnum is getting ready to roll over on MACD this week and it has always had a bad day once that negative line is crossed. They almost all do. What MHR did differently last time was that it didn't go quite as negative and didn't stay negative as long. But we didn't move up as much that cycle either. The difference this time is that the sector is on fire with bargain hunters lurking that blew out of something else too early too. So the " KEY " is noticing the differences and adjusting.

      But ..... keep an open mind, and don't fall in love. As an example, PVA has been bringing on multiple wells on old MHR property that are having IP rates between 1600 - 2200 BOED (EOG type numbers) where MHR was getting 600 - 800 BOED. I think property values just went up.

      Sentiment: Buy

      • 1 Reply to me2yousee
      • Maybe it's just my wishful thinking, but I read about the other competitors and after an acquisition, for example, they announce they're moving 10-15 drill rigs in to further develop the property. I seem to remember, at least back in the day, where Gary would say the're bringing in one or two additional rigs, maybe taking them up to 4-5 in site to do their drilling. The reasoning is there just aren't enough rigs around...then there's the fracking limitations. So how come these other guys don't seem to face these issues?...or is it just me and my overexhuberance for this company, wanting it to get on with the development? :-) Sometimes we see our investment results through rose-colored glasses and aren't as critical of what they're doing...or NOT doing well. When I see Floyd and his gang (HK) come in much later, pick up a ton of land (although at a steep price in some cases) and put all those drills into action, I get a little envious. But he did have a big head start with his capital budget, so he was able to do this. Hey, the grass is always greener! LOL!

 
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