Oh well, timing is everything and SD missed by a month. Looking for 600 million elsewhere now that they have alraedy committed to spending, or lose the lwases. Watch out this week, if they call off the IPO.
Need to restore a failed hard drive. I'll have to monitor MS2 talk by phone. It'll give me something to do. Pick me up a case at the store. PS - I have a contract out on your horse Rainbow.
Sorry..that was a typo. That was meant to read the big city as in NYC.....where they are conducting same sex marriages. That is sure to get some complaints. Honest mistake...no racist here. A John Stewart type of guy.
Huge, your getting a bit racist - Nig City. Rednecks go for the white gals or a trip down to Mexico. Quite a few of the guys on the Rigs are Hispanic, almost no Blacks on the Rigs, and lots of Whites at least here in TX.
Ward always gets the CAPEX done, pulls rabbits out of the hat. He will raise the money, might even go for dilution, did that a bunch of times with CHK. The Plan is in to drill and Ward and Lieutenants will execute. I’m wondering whether Bennett will short Oil as well as hedge it long. He is a sharp guy.
Running short on Longnecks, got to make a run to the store to replenish. I’ll be back and talk to you a little bit more about your Brokeback Mountain Cowboy attitude.
If your around later lets discuss the new Miss Play.
I bet the are a few rednecks that are about to go to the nig city and get hitched. Lmao. Rainbow....you the least bit concerned about the capital raises? Let me know if I am being to optimistic. I have just seen ward execute so well the past year...and now he actually has something that everyone wants.
The Road Show will be going on for the next couple of weeks. I expect PER to fund, but it may be on the low end. If Oil Tanks really bad, we may have a problem, but that appears to be unlikely. And the Koreans are definitely in, they got the Ole Miss on the cheap (only 10 times what Ward paid for it) but a good deal none the less.
Grab 250 Million up front from the Koreans for 117K acres, go out and buy 100 MM acres with the money, looks like a good plan to me. SD could have gotten more in a favorable Trust situation, but it takes a long time to get the wells drilled and the IPO to the market and sold.
Time is of the essence, Ward left a few bucks on the table but wants the extra Million Acres Now.
I definitely agree with you rainbow. Permian will fund but might not be as good as could have been. Oh well. We are moving on. Setting up for a massive SDT2 in a few months that will fetchnone billion minimum. That's another reason behind the capex increases the past few qtrs.....need those wells and reserves. I have no doubt ward and management feel incredibly comfortable being able to easily fund capex. If you don't think wards current miss acreage is worth a few billion short the stock. If you do than the funding will not be near the issue the shorts are concerned about. It really is as simple as that. There will be a bid from an Asian investor no matter what the markets or oil are trading at. Ward will make the tough deal if need be....remember the kaiser private placement of his stock? I will say one other thing....not only is that $1.8b 12 capex going to be easily funded....it will be raised to $2.5b before it's done. In this biz you either grow or you die.
Brother....this ipo is going through no matter what. $600mm or $500mm....this isn't about the most bang for the buck anymore. This is about execution and it's more important that it gets pushed through.