Amore, you wrote: "Keep in mind that this is still a speculative stock, that it has sold off assets, and that it is laboring under an interest burden (not so much a debt burden anymore) that was based on its worst and most risky times."
Yes XTEX got rid of some of its not to well performing assets, but keep in mind what management has said about expanding, which is what a good deal of the refi is about. XTEX wants to expand their pipeline network northward, which makes sense sense the vast majority of coal fed companies are switching to natural gas. XTEX is in slim ready to come out swinging condition right now, and if the financial people get on board, XTEX within five years may have 5-6000 miles of pipeline and fractionaters place in strategic positions around the country. So I would not be so quick to write them off. Morningstar, SeekingAlpha and Zack's all seem to be getting onboard XTEXs business plan, and despite the downturn in stock price right now (which is true for all stocks right now), XTEX will do great in the next couple of years. In so far as a dollar a year dividend...well the financial rags all think it can be done. Also take a look around at some of the other MLPs which (although P/E ratios mean nothing to MLPs) show a lot of them selling at huge multiples of earnings, and they still are just paying a dollar a year dividend. Calm down, have a drink, put your stock in a sock (one that is not washed and hide it) and dig it out in about 18 months. You will be glad you did.
I always thought of speculative stocks as penny stocks in gold mines in Canada where no gold had been found as of yet, but digging was going on fast and furious from the money raised in the 20000000 @ .02 a share offering.