With that kind of of heritage...they should be very adapt in using canoes !!! I can smell tax payer "participation" on this. Between the casino's and oil/natgas revenues....those tribes can afford to build whatever they desire and they don't need any assistance. If a coalition of tribes and oil companies are funding the bridge...sounds great....if taxpayer coalition is funding bridge.....bad deal. There's 1000's of miles of oil and natgas pipelines in the Gulf of Mexico and narry a one of them needed a bridge. Crossing water ain't no big deal for pipelines...the tribes are just trying to get a newer bigger bridge. Let the tribes build the bridge, put in toll gates for traffic and flow meters for oil and natgas volumes at whatever tariff is required....and waaalllllaaa the bridge becomes self funded and no taxpayers need to be involved. JMHO..GLTA
in wildcatters....but prudent business skills is not one of them. All three SD, CHK, and HK have chased the black gold / natgas with a "damn the debt" attitude....which is OK as long as you do hit the big payoffs. Both Ward and McClendon ended up losing the companies they founded....I don't know if Wilson will eventually follow that path or not, he does have a little bit of a different situation....but even with all the insider interest...he may eventually tire them out. The one single factor they all seem to have lost track of is it is " PUBLIC COMPANIES " they opted to run, not private companies. When you operate a public company it comes with a fiduciary mandate to look after the best interest of the shareholders.....and that equates to putting away the six-shooters and hell-raising mentality because your risk taking puts shareholders in harms way. You can't tell me that Floyd, his accountants and major shareholders can look at the balance sheet and NOT see that it stinks and it's pure and simple overall poor decision making and lack of business discipline. However....there is valuation in HK and it's the reason insiders are buying it, major hedge funds, and little ol' me. I basically believe Floyd has gotten the pps to a " come to meet Jesus" level...that he's gonna get some well deserved preaching to in regards to the commandments of running a public company. I'd put it to Floyd real simple....you may be the best wildcatter that ever existed...but your stock price says you can't run an oil company worth squat. It does no good to find the El Dorado goldmine if your pack mules all get lost on the way to the bank. I'll credit Floyd for getting "some" good acreages but I'm trusting more in the vested interest in HK to either kick Floyd in the rear or kick him out to get HK valuation and I do believe that will happen. JMHO GLTA........of course if the company sells for $12 billion in the near term...I'll immediately eat crow....and then steak and lobster.
their acreage in the Eagleford is likely worth more than the total debt load....keep in mind Devon energy just paid $6 billion to Geosouthern for a smaller Eagleford acreage position than HK holds....granted that acreage was further developed in bopd but the reserves are still there and that's what is being bought. Again Halcon has a significant acreage in the Bakken....again the valuation of that acreage should be well above the $3 billion debt. I mind folks doing some bashing in regards the present "stats" the company has booked. I'd also argue that Floyd needs to quit "pizzing" away money in unproved acreage and put the drill bit to the proved sites and get the production numbers and cash flow going....get the books healthy...then go back to "wildcatting". So do I really like the present results HK is booking ....NO....but that's why the pps is under $4...below book value....and a bargain. But the assets HK holds is worth far more than the debt...so bankruptcy talk is just Buffoons blabbering in hopes of helping their short positions.......plain and simple. I'm hoping someone will take Floyd and crew to the proverbial "woodshed"....and give them a good thrashing and get the company back on track....if so I'll make some money as the pps should be @ 3 to 5 times book to be on par with peers. But they have to get the balance sheet cleaned up and my bet is that will happen....but as is the assets are worth far more than the debt....so let the buffoons dream all they want to about a BK...or pink sheets...it's pure fantasy. JMHO GLTA