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Triangle Petroleum Corporation (TPLM) Message Board

  • bluedreamdreamer bluedreamdreamer Aug 9, 2013 2:42 PM Flag

    opportunity versus uncertainty

    I've been selling 5 puts (don't want that much stock just income) , a few 7.5 puts (jan's, to buy stock with basis near 6 in case shares don't recover rapidly and if they do, get a nice 12% annualized return for my income portfolio) ) and may do some stock buy/call writes (sell the jan 5 calls, again for more "low risk" income with 15% annualized return after my commission) to take advantage of current price while minimizing dopwnsid risk. Rockpile is cranking and, depending on the nature of the properties they are acquiring, acquisitions could lead to expansion of helping rockpile's book and may even justify adding an additional crew if the properties are near their current drilling sites in the bakken (gotta check that, is the KOG property acquired in mckenzie county; the more sites closer together the less downtime and expense of rockpile) then they will also be able to leverage their pipelines i.e capture even more gas with no or little additional cost. So yes while deal is dilutive based on current estimate of year end output and share count, the share sales have the potential to leverage their current infrastructure and thus increase margins, I have yet to run analyze whether the $14,600/acre they paid for KOG land is cheap? and who knows what they intend to buy with the proceeds of the 15 million latest shares

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    • There is definitely a move afoot in the Williston Basin by operators to increase working interest in their operating units and sell down interest in non operating in certain land,swop non interest for interest in operating units,doing more smaller land deal transactions contiguous to their acreage in an effort to grow,consolidate land and working interest positions.....lots of wheeling and dealing going on in the Bakken.
      I believe KOG paid around $14,000 per acre for the Liberty purchase which also came with 5,000 boe/d.
      Did they over pay ??? time will tell as it will for TPLM.
      Great buying opportunity though !

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