1. BG opts out of buying assets
2. TGGT deal nets about 50% of what was expected
3. Revenue, cashflow, and earnings miss
Are there more shoes to drop on this, or is all of the bad news out now? After guiding EBITDA up last time, will Miller now guide down this time? TGGT does not account for the EBITDA miss in this recent qtr, so what happened? Is it execution (which can be fixed with a management change)? Or is something more fundamental going on (such as a large shareholder using this as a cash cow and destroying equity in the process)?
It appears that either incompetence or dishonesty is at work here. And I don't believe that T. Boone or Wilbur would tolerate incompetence. So, the next bad news will be a dividend cut to drive off the remaining small shareholders so that the company can be taken private for a song.
I doubt they cut the dividend - they need that for themselves while they sit and wait (another way that they are milking the cash out of the cow). Watch to see if Ares, Oaktree, or Fairfax make any moves one way or the other, that will be the tell ....
Probably more downgrades. Dividend cut. Have to see how Mr. Miller handles the conference call. Hopefully the Board of Director's have spoken with him concerning his statements during the last conference call and not to tell an analyst that he " doesn't know what he is talking about." Maybe it's Mr. Miller who doesn't know. Anyway, it's been a tough 3 months. I did speak with Chris Peracchi of EXCO. Also, I sent letter's to all of the Director's sitting on the board.
I agree vzar. I wouldn't be surprised if it was Dougie himself working with others. He should also be investigated all the way back when his stock was sold (Margin Calls) just prior to the stock tanking. How about his phony bid for the company which management turned down. I think a few people are involved in this. Fire all these ###### and bring in a new team.
I pretty much agree.... all the bad news is out and factored in to the share price. we could drop to 5.50$ or lower but at that price would it not be undervalued. These results have a lot of once off costs. Might be a rocky few months but the ship should steady and hopefully there's a reverse in fortunes
Don't panic yet ... down what 3% AH on a piddly 30k shares ... let's see what is said at the CC and how the street reacts. I still think this could see double digits in next 6-12 months if we get some movement in NG prices and the Street starts to move into NG stocks ... I know big "ifs" ...