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  • youcanpickum youcanpickum Jan 27, 2012 7:34 PM Flag


    Still, consolidation is going to continue. Baird it throwing in the towel and gave a 50% divvy cut and 14 target on the stock. At that level with NRGM in the mix, it is extremely cheap. Could still get some downside, but I don't expect 14. I would be happy to own even more at that level. With a lower payout, there will be less stress on the debt, with some paydown possible. With 119 Million shares outstanding and a cut of $1.40, there would be an additonal $166myn that would give the company 60myn to pay down debt with the extra $100myn not being wasted on returning capital to us while killing the company. APL did this as did other E and P companies and they turned around quite well. Insiders will get new options that exercise at much lower levels and get rich, too.

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