I never thought we would be flat today! thats why I bought another large chunk at the end of the day when I saw the the price spike...Had dollars signs dancing in my head, after yesterdays news... which was timed for todays news of the bond issue. Us retailers ... us little guys....don't stand a chance. But good luck anyway
Frustrating for sure. We'll see what happens over the next few days. Maybe the surprise today just needs to be digested. I don't get it,..the share price didn't react favorably to the bond deal from what I recall, and now not acting favorably with the announcement that its off at least for now. Clarity, I guess. With Huntington firing now on almost all cylinders,..I am quite pleased really. We should be higher IMO. The real question for me right now is do I take advantage of these low prices knowing the Huntington issues have been resolved? Even though I already own 125k shares,....hmmm
Sentiment: Strong Buy
Well if you believer the value is here, which it seems you do. Then ask yourself this question, are you comfortable adding more? Do you have any better places to put it, near term, short term, long term???? Me, I think I have enough here. Lots of value around though.,.. Mart is one... lots of people don't like the stealing... but I am not saying to load the boat... 5 % or so of portfolio... for 14 % divy now and a chance to double production buy the end of the year???
Value is one of the reasons I still continue to hold the very frustrating Osage yet! But I know what I have.... 10 wells a quarter drilled,,,, lots to look forward to! The most important thing is we have a typical fall rotation into oilers.. that where the big money will be made on the quality ones in the next 6 -8 months!
This one is a keeper! Good Luck.!
FWIW OJ's doesn't seem concerned (i.e. he doesn't give a #$%$):
* I go out fishing for the day and just back to this....wow.
* I am not surprised at all. If you had read my posts neither would you.
* INA continues to screw up their communications and timing issues.....who releases news 10 mins before market close? Who slogs a bond offering before you have the good news "in the bag" (Huntington full production)? Who puts out a "good news" release immediately followed by a "disappointing" new release? Who? INA management!
* who has reservoirs that have all exceeded expectations from Tyne to Huntington to Orlando (thus far)? Who has a wall of cash flow coming from Huntington max production within days to a few weeks? Who has 5 light oil fields to bring into production and then kick in West Wick and you have a serious reserve (risked and unrisked) upside that is 3x+ where the current share price is? INA and their management team.
* who gives a #$%$ what the traders do? Who gives a #$%$ about their posts....their professions of worry or self-doubt? Who gives a #$%$ about their pennies made when serious, real money, is at stake for the next year to two years? Not I.
* there was no surprises for me....was there for you? Should hit 70-75 cents in the next month. Then another leg up thereafter. I know the catalysts....do you?
* INA....warts and stinky moves go along with incredible ability to find and deliver highly accretive UKNS oil assets to their share-holder base.
* Use or flush.....buy, sell or hold......I care not!
I like OJs comments on management, smart with the oil and operations, bad, bad, bad on promo.
I have been involved with too many over the years that were great on promo but could drill a straight well into the strategic oil reserve.
I'll take execution over good promo any day
It appears the nr's were timed as a good news bad news sequence and Iona probably saw the second news release on the bond to be perceived that way. It was also strangely worded. But, in fact the news on the bond issue was actually good news and shows the strength of Iona's financial position. So why would Iona want to allow someone (Casimir) to dump shares and not want the stock to go up on the Huntington production news?
Its almost like Casimir will be coming out with a downgrade saying that pulling the bond is causing an Orlando delay. IF that happens then Iona would have been a party to a shenanigan.
Casimir and National were 2 of the brokers who did the private placement earlier in the year.They have a ear to Iona.... these news releases were definitely timed one after another. Why not spell the bond details out... furthermore, we are maybe wrongly assuming they were in a position of strength to decline the issue of bonds... We don't know the details... Value is here... thats why I'm here... as Winallin says, It will just take some time... As far as Investor Village goes, I see you became a member... but not a paying premium member.
Casmir is selling heavily in Canada and the cancelling of the bond appears to many as being bad but I strongly believe Iona management now believes that the new cash flow puts them in the drivers seat to obtain better terms.
As far as I am concerned, oil is flowing the upcoming presentation shows all the possible oil under the Huntington in the Jurassic which could add over 5 million barrels of oil to Iona reserves.
TnT is coming up so our cash flow will be pretty good maybe even .47 per share.