In your post you state
"The managment is just starting and beginning to
become shareholder friendly". Can you explain that
statement? I don't see any change in management's treatment
of the shareholders. I still feel that they are
treating us like garbage.
No one seems to be
considering in their financial anlysis of Isramco the
behavior of management. There's no point in looking at the
financials when in the past Isramco has siphoned off all
positive cash flow into dubious and suspicious deals, with
an apparent attempt to enrich a small group of
insiders. It seems this behavior is still going on. That
may be why none of the big brokerage houses will
touch this stock with a ten foot pole.
Isrmaco can't do a buyback since it will defeat
the purpose of their existance-to give Israeli oil
operations international ownership. They therefore need
their non-Israeli shareholders. And there seems to be
litle likelihood of a dividend, since that gives the
managers less money to play with, which they seem to
regard as their own, not the minority stockholders. So,
if you're looking to make money on this stock, the
only way is to wait for it to appreciate on
speculation if and when some broker puts into play.
The float is 1.2 million shares.There are 885+
shareholders.How many shares can they buyback? A periodic stock
dividend may make more sense.The stock is already thinly
traded,less stock in the float will only compound the
problem.Who will trade a stock,that in essence doesn't?
a lot of sense with cash being higher than stock price. Cash and securities being almost double of stock price and then buyback will make earnings leap along with good prices for natural gas.
Again there is no float on this. Managements goal
is to have western ownership. (i.e. partnering with
BG, U.S. citizens owning stock, incorporation in
Previous posts on this board show this
company's purpose is to make it a "Western" company. This
way Arab/Egyptian interests will not attack these
"western" companies for fear of reprisals from the west.
buying the shares at below cash at current low
prices with the managment owning a lot of stock will
enentually pay off handsomely because the managment after
talking to them realizes the shares are ridiculously
cheap. They know this.
Which is why I increased my position last year.
This company is assuredly selling at a discount. Nice
to see we have 2 institutions involed now also.
(Merril Lynch and AXA )
(15 mil market cap)
AXA Financial, Inc. 19,600
Merrill Lynch & Co., Inc. 1,681 $11,557
Their positions represent 1% of the float These are
token interests for these companies since they have
interests with BG and other ISRAMCO related partnerships
(see previous posts).
The whole point is
spending money on investor relations is pointless in this
company. Their goal is to foster the privatization of
Israeli Gas interests. Bottom line is these folks will
make themselves rich only when the national interests
of Israel is secured.
I'm in long term
because this will yield someday. Right now it is not in
best interests of Israel or it's people to relinquesh
control of this company to 3rd parties. So do not expect
a short term big gain.
Management doesn't care about stockholder
treatment. This company is 51% held by the inner management
circle. In this type of company it doesn't matter what
stock holders think. The question is do you believe the
management of this company will one day deliver a big prize
by selling company or offering a cash
I for one believe this company will never be sold
(Israeli national interests come ahead of windfall
profits). After the company issues the big dividend the
primary owners will probably release a portion of their
stock on the open market to increase the float. Until
that day you will never see the upside of 10. That day
will come but it's 5 to 10 years down the road. The
privatization of Israeli oil industry is in it's infancy. Look
into recent deal with striking oil workers concerned
about their future to see what I mean.