With all due respect D4T you don't know what you're talking about. The oil price dropped from $42 to $9 a bbl almost overnigh in 1985 because Ronald (The greatest President of them all) Raygun woke up from his daily nap long enough to stick a dagger in the heart of oil and natural gas prices on the theory that lower prices were good for the country. Of course, most everyone seems to have forgot about this but I haven't because i lived with those low prices for twenty years. But on the other hand they gave me lots of job security because i spent the better part of 20 years testifying in lawsuits concerning take or pay obligations and when is a posted price, a posted price. So I guess I owe President Raygun a vote of thanks for 20 years of job security.
If an almost penniless geologist walks into Exco with a can't miss prospect (there are still some of those around) and shows it to Mr. Wilder, he can either give it to Exco or can direct it to Bluescape. Nobody else can do that at Exco. All deals must be shown first to Exco.
you and i apparently don't live in the same world. I owned stock in three E&P's that Chapter 11'd in the late 80's. Bondholders, banks and vendors got most of the new stock and there was always that depressing statement that current equity owners got nothing. And who would want a moronic management team that bankrupted the old company to lead the new company, and who would be dumb enough to give them equity beyond a small amount of restricted shares, I guess I just don't see your train of thought. You may be right but I can't figure it out. Maybe things have changed. This time i won't own any oil stock other than GE.
why would he get 5% of Newco? I've been involved in several bankruptcies and the current owners got nothing of newco. The bondholders and banks got most of it. deferred salary was way at the bottom of vendor classes. And how would newco ever be worth $500MM starting out? Please explain.
palantir you must have wax in your ears. according to the press release #2 and #3 need 2.716 million and 3.416 million yea votes to pass. there are currently some 55 million shares that have not cast their votes. All of these shares are being held in brokerage accounts. These are shares owned by individuals like you and me but are held by our broker in our account with them. It is extremely difficult to get these shareowners to vote. Some may no longer hold the shares so they don't care how the vote comes out. Exco is going to have to spend some bucks to get 3 or 4 million of these votes.
I always wondered why President Obama got more votes than Mr. Romney. After reading your message and considering there are millions like you, its easy to see why. Fortunately for America there are more intelligent voters than unintelligent boobs like you, You are probably a Donald Trump supporter
Tony face the facts - no one is interested in SFY or their properties. If someone is they will buy them out of bankruptcy court. Its all over, finished, caput, that's all she wrote Since misery loves company I will tell you that several other independents in Houston are in the same boat. Houston is rapidly becoming a penny stock capital.
vzar, perhaps I'm overgeneralizing, but reverse splits are usually the last step before bankruptcy, which I'm pretty sure won't happen here, because all the big boys have almost all their investment riding on the common stock. I also don't know for sure, but I'll bet that Wilder has been in charge for a while even though his name is not on the filings. I hope you're right about him and he comes out with both guns blazing as soon as the ink is dry on the vote. It will be interesting to say the least.
people who think their investment will go up or down as the result of a reverse stock split need to go back to investing 101 and learn that reverse splits have no immediate effect on shareholders' investments. In the long run though, reverse splits are usually the kiss of death. I thought Wilder was supposed to be a smart cookie but if this is the best he can come up with, XCO is toast for sure. I'm surprised that he, or Wilbur and his buddies for that matter, would agree to a reverse split. Delisting the stock would save some money and since these guys, including Wilder will ultimately own 75+ per cent, XCO does not need to be a liquid investment
Wilbur is not going to lead us to the promised land, but Mr. Wilder has a decent shot if you bought below $2 per share. I'm all in with my entire mad money stake. I'll probably lose it but I made a bundle on Exco when it was blowing and going so I'll still come out ok in the long run.
Gee, Mr/Ms Rebeccaherb, thanks for educating us unsophisticated investors. Unsolicited advice from self-anointed know it alls is always appreciated. I need to get more advice from you - should I buy low and sell high, or is it the other way around. I'm too dumb to figure that out myself and will appreciate your guidance.
Wilder will be calling the shots. I wonder when he will announce his going forward plans. If memory serves me correct, his contract if for four or five years which is a long time.
69,000,000 liberals voted for President Obama in the last election. 65,000,000 idiots voted for Mitt. Thank God, America has more liberals than idiots.
His way out - he turns the whole mess over to Wilder and gives him powerful financial incentives to restore the company to normalcy. Wilder pounds hard on the banks, JV partners and completely cleans Exco's house. Then Ross and his buddies take the company private, pay off Wilder and keeps the Haynesville gas to sell into the LNG market which will be delivered on his ships. So, Ross makes money on the gas and money on the transportation and will probably make out ok and Wilder gets his cut of the pie. The only fly in the ointment is that Ross may not live that long, but his company will be there forever. Also, there's probably little room for stockholders to make anything unless they bought for less than $1.75 per share.
At the height of the boom but didn't. Greed will cost you a bundle every time.
The government has not helped oil for a long time. In the 80's, Ronald Raygun (the greatest president of them all) turned his back on the oil industry as the oil and natural gas prices fell off the side of the table thanks to his policies. I'lll never forget an Oklahoma Republican writing a letter to the editor saying that he did everything the Republican administration asked him to do and he went bankrupt in the process.