It won't be announced for a bit contrary to what they came out and said publicly. Expect to see it obviously by no later than the 15th. TPG spoke to the person's company I live up the street from and they said its pretty much a done deal now. Waiting on just a few more firms to actually send in their proxy.
Don't get too excited though, this company is still a POS and it still has a rocky road ahead of it, one in which i have no intention of going along for the ride. I'll be selling within a week after the actual announcement.
92, that is indeed good news if true. I have been reading your posts with great interest. First, congrads on even being interested in the stock market at your age. I do agree with your comments about value investing but keep in mind that fortunes have also been made investing in fast growing high PE stocks. As for SD I am a long time shareholder with a significant position. I had been a huge supporter of TW but that all changed with the TPG revelations. Keep in mind that at one time we (and even Cramer) were all toasting TW with what seemed to be an extremely shrewd move into the Mississippian. The play was largely acquired at $200/acre and several parcels were quickly monetized at 10-20 times that price. The land was low risk, low cost and high return. This is what brought on all the optimism of going to $35/share. Also, I can tell you this board has had some extremely intelligent writers with extensive knowledge of the oil/gas industry. These guys were also very optimistic given the available information. You as a relatively new SD investor have the benefit of much more information about the play and how Tom operates the business. As such, your comments about the long term investors are pretty arrogant. I don't like losing money but I am willing to take reasonable risks in order to earn returns. You can't wait until all information is out about a stock because by then the profits are made. Sometime you will find yourself in a stock where new information about a company comes out and tanks the pps. Hopefully, a 19 year old wouldn't rub salt in your wounds.
I was just joking with the post I made about TPG talking to the guy up the street from me and his company he works for. They do exist and he is the CFO of a mutual fund company, however he didn't nor will he tell me their decision for obvious reasons. However i do think its safe to say TPG will win, especially with whats going on with them acquiring more shares as of late. And as for rubbing salt in your wounds, I guess I never looked at it like that, I more or less just saw people who were long and loved this stock and many still do, and to me I just didn't and still don't fully understand how you could be 100% behind this company still, I guess I was a little arrogant in that regard, so for that I apologize to you and any other long that i've rubbed salt in their wound. However at the end of the day, that doesn't discount the fact that this company isn't worth investing in long term now, at least not in my opinion. I bought in at 5.68 to take a ride somewhere between 6.5 and 7 after the vote and then sell out and transition into hK, a company with proven management. Now if you or others want to hold or buy more for the next year or so, while TPG "fixes" the company, then so be it. However I just don't see why you would want to put your money to work in a company that ultimately has a strong possibility of ultimately failing given the macro aspect of the world economy, the fact that they have alot of eternal problems and also they are a commodity which is not a good investment if you want to guarantee future returns for years to come. Just my personal opinion, once again, I do apologize if I "rubbed salt in your wound." There is but a few select amount of individuals that I like to ridicule on this investment thought due to the fact that they discount everything i have to say being that i'm 19, even though they are the ones who have lost money on this stock.
Ha! @ "TPG spoke to the guy's company who lives up the street from me"? That really sounds credible. Here's one for yas, "my dog drank a quart of buttermilk, ran a mile then ran back to where he started, before he farted".
Sentiment: Strong Buy
I live up the street from a gigantic Great Dane dog. The dog has psychic powers that no one can explain. I asked that dog: "Who will win" ? The dog responded with a gigantic dump. Looking down at that steaming pile, I saw the face of Tom Ward. I immediately sold my shares yesterday. I believe that dog more than the dogs manipulating this POS..Good luck longs.
Lolz your a funny guy, I was just messing around with the dumb Okies on this board, I was hoping to get a rise out of a few of you and it looks like i accomplished just that.
So I don't live down the street from the CFO of a firm holding a moderately well sized chunk of this company? I don't? I'm not friends with his son? And I don't talk to him about the stock market and Sandridge, being that I like to keep up to date on both? And he doesnt get paid at a bare minimum 350K (conservative estimate)a year? Which wouldnt lead me to believe he actually knows what hes talking about?
Yaaaaaa...........I obviously don't know what i'm talking about...........