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Iona Energy Inc. Message Board

  • smarter_of_moron_idiot_imbecile smarter_of_moron_idiot_imbecile Sep 19, 2013 11:38 AM Flag

    OT: HK

    Just noticed it was trading near its 52 week low. Most of the domestic oilers have had a good run. Hummm... anyone following this one? Does it have good management, assets?

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    • Floyd Wilson used to run Petrohawk....and made me some good coin, but with this latest venture, he was late to the game on several plays, and has over-paid and now has a heavy debt-load.

      Acreage, once you examine closely------is not the best and they have a large play in the Utica shale, which is more likely to produce lots of NG rather than oil. Instead of buying cheap acreage ahead of other operators, this time around-----Floyd bought a few companies, after THEY ran up their stock price and let him have it. In Petrohawk, Floyd & crew bought acreage early in the Haynesville shale and the EagleFord shale for pennies on the dollar compared to others who came into the play behind them.

      There are better plays out there.

 
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