I continue to feel that the extreme views that dominate this board are not valid. That means I do not agree with the likes of the bashers like HKstinks, Nleesman or the likes of the "going to $8 soon pumpers".
HK at current price represents a very reasonable value , considering the balance of risks and potential upside. It was grossly overvalued at $8 , and may be getting undervalued presently.
The positive things I gleaned from yesterday's conference:
1. current production is around 40,000 BOE/d , production growth is key to the HK story.
2. they FINALLY are indicating that next year (2014) cap ex budget is anticipated to decrease (by up to 15 percent , but still maintaining the production growth trajectory. This is a DOUBLE edged sword POSITIVE as it means that as the year rolls on, cash flow from increased production will increase revenue coupled with decreased spending translates into improved earnings. AND it signals that management has finally gotten the message from the street that it wants progress on the spending discipline etc.
Why this is so important, is that presently we are in the height of fear and doubt syndrome, and this allows the shorts to run wild. When the above improved earnings picture is becoming more clear, this horrible current sentiment will first be chipped away at and slowly but surely will change to neutral and then ultimately to a positive sentiment. Patience will be key, as this will take sufficient time AND FACTS ON THE GROUND. ie HK will have to report the numbers,
well value, you call me a "basher" and I call you a self-absorbed, ego maniac with delusions of grandeur...but name calling aside I disagree with your (and your bff Spartacus) muted cheerleading view of HK for the following reason. Much like an alcoholic and a drug addict, the first step is to recognize and admit that there is a problem. Your whole argument, as far as I know based on your many many posts, is that there is NO problems. Its just mm messing with all of us (believe or not I also have shares in this pig). But the simple fact is that there are SIGNIFICANT issues with this company and in particular with the management of this company. If those issues are not addressed, the share price will not recover in a year or two or five or ten.
I will give you just one example: In a quarter or two, Floyd will be forced to issue more common to finance capex for 2015 because his production is not nearly enough (based on HK's projections and not your idiotic estimates) to pay for it. So based on what you said that the price will take a long time to recover, in a quarter or two from now we will probably be around this same level or lower. What do you think Floyd will get from anyone for another 300 to 500 million shares of this pig? Do you think he will get $5.10 again?
I think you should sell this "pig." Clearly, you don't believe in management. Why hang around and suffer more losses? I don't care if you're long or short.
"Muted cheer-leading?" I'm down $20K at the moment. I chose to invest in HK. I don't think the stock is a pig. I think they're having growing pains...I've been investing for years. "If you can't afford to pay, you should not play." Charles "Chuckles" Cohen
"there are SIGNIFICANT issues with this company and in particular with the management of this company"
"Floyd will be forced to issue more common to finance capex for 2015 because his production is not nearly enough (based on HK's projections and not your idiotic estimates) to pay for it."
You have summed up Halcons situation in the above two statements.
What's important is how the market reacts to this situation. So far there seems to be very little remaining support for Floyds management style. The stock price is managements report card and so far HK is failing.
No price rebound to the latest selloff, as a matter of fact it's still moving down.