1.) Stock market is at alltime high
2.) Unemployment is down
3.) Oil and gas production is close to an alltime high after several years of decline under Bush
4.) Osama bin Laden is pushing up daisies
5.) Chinese businessmen are emigrating to US in droves, bringing their money with them
6.) Ali Baba sells out 21 billion dollar IPO after two days in the US
7.) Americans show their intellect by quashing a Republican who says he doesn't want to be President to 47% of the American citizens
8.) 8 1/2 million people enroll in Affordable Care Act.
9) Illegal border crossing in Mexico are down.
10.) Texas governor may be indicted for throwing his weight around where he doesn't belong.
11.) Children's school lunches are more nutritious.; Republicans try to stop this because they think good health in children is Unamerican.
12.) Unconstitutional gay marriage laws are being struck down like a wave across the US.
13 .) President continues cleaning up after Cheney et al. Two wars ended, oil and gas production is up, SEC is staffed with competent employees and leaders.
My Vanguard account has a Sept. 12, 2.34AM announcement from APC saying that it sold 20% of its oil discovery to Mitsubishi. The price was not disclosed. Wonder why the announcement is not on Yahoo.
What did you expect? They don't have a partner and Noble has just signed a big contract to explore in offshore Gabon which means Nic is probably a dead issue with them especially since they set permanent plugs in their test well. GLTA.
Everybody's doing it. They call them restricted shares. Actually what they are stock options that require no cash on the recipient's part except they have to pay ordinary income tax rates on the market value. These started rearing their ugly head about two years ago. Look at different companies who are issuing odd numbers of shares to the execs - these are usually no cost restricted stock. The reason for the odd number of shares is that BOD's believe execs should get fewer shares because they aren't paying for them. ha ha What a big freakin' joke.
I got out in the mid-30's as soon as Schiller started paying himself million dollar bonuses. Things haven't changed. That was a great decision - traded EXXI for APC, APA and BEXP. GLTA.
Its amazing what some people think they know and how totally wrong they are. Falcone is not in a sweet spot by any stretch of the imagination. Go back and see how much they paid for 75% of Harbinger and what they got for it. It also would be instructive to see how much cash Exco put in its pocket on that deal. The number is not in any single place but if you dig around some peripheral financial information you can get close to the number.
Did you notice that Burnett not only replaced Mulhern, but also kept his old job as CAO. It's just a matter of time. Who do you suppose made the decision not to add a replacement for Burnett?
He got his going away bonus last month with his half year bonus. Now we need to watch and see how long Mr. Hickey stays around. I think Mulhern knew he was leaving last fall when Ricky Burnett was hired. As the acting CEO said in the the press release today, most of the Board knows Ricky back to 2006 when he was named audit Partner when Exco engaged KPMG. And by the way beta seeker, Mulhern's departure has everything to do with EXCO. He has been around Exco for five years so if he has any intelligence he was almost directly aligned with Exco's business. According to the Yahoo numbers he's taking a pay cut to change jobs.
Blackstone has been in the oil and gas and lumber business in East Texas for a long, long time and they are very, very successful. They probably skinned Shell pretty good.
Repent you sinners the end is near. WL Ross Holding stock began trading seperately today. It is still a blank check company sitting on $525MM cash. $`125MM is Ross's money and the rest was raised from the public. Mr. Fixit joined the Board recently. What do you suppose happens next?
There is no short term when I buy a stock except for HK which I bought and three weeks later it doubled so I sold. That;'s a record for me. I'll hold OAS forever or until its sold which will probably happen first. I bought it for a fair price and expect to earn a spectacular return like I did on BEXP, HAWK and EP. Its hard to go wrong with midsize oil companies who have large shale holdings. I even have it in the back of my mind that APA and APC (I own both) will sell to the big boys at some point in time.
Read up on "Restricted options" Everybody's doing it because the employees don't have to put any of their money at risk and the restricted options are never out of the money. Restricted options are about the only kind of options being issued these days.
tradertrend, with all due respecti, you're whistling Dixie. But I'll invest in OAS and you invest in Exco and we'll see who makes out best. I may even invest in Wilbur's blank check company because they probably stand to make some bucks on this deal. BTW, why hasn't Wilbur hired a new CEO? Isn't he shirking his fiduciary duty. There are probably 1,000 people in Houston and Dallas qualified to run Exco, given that Wilbur could pay almost $2 million. The current guys are there because of golden handcuffs. Mr. Fixit is patiently waiting in the wings. As you know blank check companies have definite life spans.
His blank check company will buy Exco. He has $125MM in the blank check company and the remaining $375MM is OPM. He will put his new blank check member of the Board in charge who will fix up the company (his nickname on Wall St. is Mr. Fixit) Then Wilbur and his buds and the $325MMOPM will own all of Exco and the risk has been spread around to 5 or 6 groups. They will sell the gas into the export market to be delivered by his tankers. The only unknown is what is the breakeven gas price in the export market. But I'll bet he has that covered too with some long term Far East contracts.
I trade reputable stocks like WLL, APC, APA, HK, OAS and others. I don't have to hide on a "private" board to discuss them.
Its neither bullish or nonbullish. Companies permit ahead of actual drilling operations so that they will have an inventory of permitted locations in case the current wells are commercial. A permit costs pocket change but takes a while to process through the State paper maze. If the wells isn't drilled within a specified number of days, the permit lapses without further penalty to the operator.;