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Penn West Petroleum Ltd. Message Board

btdarb 58 posts  |  Last Activity: Jul 25, 2014 12:47 PM Member since: Dec 19, 2006
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  • Reply to

    Fidelity and NE dividend characterization - help

    by djp5625 Jul 25, 2014 12:00 PM
    btdarb btdarb Jul 25, 2014 12:47 PM Flag

    Remember that there are multiple criteria for determining whether or not a dividend you received can be considered "qualified". Noble's dividends are considered "qualified" for U.S. tax purposes, provided you also meet the required minimum holding (ownership) period. I'd suggest you contact Fidelity directly and get their explanation of your situation; it's not the Brokerage's decision as to whether or not dividends are "qualified"...all Brokerages abide by the same "qualified or not" set of rules....

    Good Luck!

  • Reply to

    NE Aug div

    by pismire_03 Jul 25, 2014 12:34 PM
    btdarb btdarb Jul 25, 2014 12:37 PM Flag

    Yes indeed, NE kept their dividend the same even after spinning off Paragon.....NICE!

  • btdarb btdarb Jul 24, 2014 7:19 PM Flag

    Harry, you're arguing politics with a man who has to use multiple user ids just to get another poster to agree with him? Come on, man, be smarter than that and just "Ignore User" his worthless ---......

  • Reply to

    Cats on ignore

    by winmore_98 Jul 24, 2014 6:20 PM
    btdarb btdarb Jul 24, 2014 6:26 PM Flag

    AMEN!

  • btdarb btdarb Jul 24, 2014 2:13 PM Flag

    While the "professional trader" was sitting in cash earning .000001 %, I bought 30000, yes 30000 shares in my Roth IRA last week at $6.63, and sold them off yesterday and today for a gain of just over $6K....not a bad week's work. My money's already made. Do yourself a favor and just "Ignore User" Mr. "Professional Trader" and all his aliases, like I do.....

  • Reply to

    Earnings release on Monday.

    by idccnokia2006 Jul 23, 2014 10:46 AM
    btdarb btdarb Jul 24, 2014 1:32 PM Flag

    Pengrowth Energy always puts out a confirmation Press Release anywhere from 10 days to 2 weeks prior to their Earnings Releases. Since they haven't done so yet for Q2, 2014, I agree with you that it's HIGHLY unlikely they're going to announce any results next Monday....

  • Reply to

    Phase 2 assets: Sell or not to sell?

    by mrpev Jul 18, 2014 5:37 PM
    btdarb btdarb Jul 19, 2014 10:33 AM Flag

    Greetings, mprev. I am not by any means a "short term trader" of PWE. I simply believe that for the reasons you state above, and others, the biggest being the credibility of PWE's leadership team, it's critical that they stick to the plan as THEY laid it out. As I said before, I give them credit for the progress they've achieved so far, but the fact is they're only 9 months or so into a self-described "long-term" plan. Others here seem to think PWE has already "turned itself around"; I remind them that PWE still posted a net LOSS for Q1, 2014, and their production is still DECREASING at the moment. Not to mention the stock price is still roughly 20% BELOW where it was when they announced their turnaround plan. Those numbers do not lend themselves to blind faith here just yet.

    I'm long PWE, and also "staying the course", as long as the management team here does the same....

  • Reply to

    WTI UP $2.60 After Hours

    by ador Jul 17, 2014 4:36 PM
    btdarb btdarb Jul 18, 2014 4:20 PM Flag

    Go back and read the "turnaround plan" announcement, gsi. THE major component of the plan, mentioned over and over again, is the sale of $1.5 to $2 billion dollars of non-core assets, to be completed "before 2015" (which was, again, mentioned several times). How are they going to SIGNIFICANTLY lower debt without completing those sales? And, need I remind you, THEY set the timetable for completing those sales "before 2015".

    I'll give management credit for the progress they've made so far, but most of that has come from cost-cutting measures, and friendly commodity prices of late. Production has NOT increased in the last two quarters, and they've not cut SIGNIFICANTLY into their debt as of yet.

    Have you noticed the drop in the stock price since Roberts and George started hinting during that interview that they might not get those asset sales done "before 2015"? Granted, oil prices have dropped recently, but I wonder if what statements like those do for the "credibility" they're trying so hard to establish?

    This is hardly a "turnaround already" story yet. We both want PWE to succeed, but they've still got a LOT of work to do......

  • Reply to

    WTI UP $2.60 After Hours

    by ador Jul 17, 2014 4:36 PM
    btdarb btdarb Jul 18, 2014 1:17 PM Flag

    "To sell asset or not is not a big deal for PWE now." WRONG, WRONG, WRONG! The selling of non-core assets is the cornerstone of PWE's "turn-around" plan. Want to see the stock price drop like a stone, again? Announce that you've decided not to sell, and watch what happens.....

  • Reply to

    Yet another question

    by woodfrog8 Jul 15, 2014 3:44 PM
    btdarb btdarb Jul 16, 2014 4:03 PM Flag

    Continued. So, whoever buys your 300 Noble ordinary shares also gets the rights to the 100 Paragon shares you would have gotten.

    "Noble shareholders who sell their Noble ordinary shares in the anticipated "ex-distribution" market under the symbol "NE WI" (that is, WITHOUT the right to receive Paragon ordinary shares in the distribution) AFTER the record date and ON OR PRIOR TO the distribution date WILL NOT BE selling their right to receive Paragon ordinary shares in the distribution."

    If instead you're selling your 300 Noble "when issued" shares, those shares do not have the value of the Paragon "when issued" shares embedded in them, so you retain your right to the value of those shares.

    Clear as mud, huh? I've been through a few of these with other companies. If this is your first spin-off experience, I'd suggest you purchase whatever Noble shares you want to on or before Friday, July 18, 2014, then watch what happens as the days progress through Monday, August 4, 2014. It's a great learning experience!

    Best of Luck!!!!

  • Reply to

    Yet another question

    by woodfrog8 Jul 15, 2014 3:44 PM
    btdarb btdarb Jul 16, 2014 3:43 PM Flag

    OK, here's a practical example of how the spin-off scenario will work, using the pertinent verbage from the transaction announcement (in quotes), and with the assumption that you DO NOT currently own any NE shares:

    "Noble shareholders will receive 1 ordinary share of Paragon for every 3 ordinary shares of Noble held at 5:00 PM EDT on the record date of the distribution (Wednesday, July 23, 2014)."

    You now purchase 300 ordinary shares of Noble on Friday, July 18, 2014; the Settlement Date of your purchase will be Wednesday, July 23, 2014, so you're now a player in the upcoming 1 for 3 distribution of Paragon shares.

    "the distribution is expected on occur on Friday, August 1, 2014."

    "Noble expects that a "when-issued" public trading market for Paragon ordinary shares will commence on the NYSE on or about Wednesday, July 23, 2014 under the symbol "PGN WI" and will continue through the distribution date. Noble also anticipates that "regular way" trading of Paragon ordinary shares will begin on the first trading day following the distribution date (Monday, August 4, 2014)."

    "Beginning on or about Wednesday, July 23, 2014 and THROUGH the distribution date, it is expected that there will be 2 ways to trade Noble ordinary shares - either with or without the right to Paragon ordinary shares in the distribution."

    So, you're going to have 2 options for the 300 Noble ordinary shares you now own:

    "Noble shareholders who sell their Noble ordinary shares in the "regular-way" market (that is, the normal trading market on the NYSE under the symbol "NE") PRIOR TO the distribution date WILL BE selling their right to receive Paragon ordinary shares in the distribution."

    If you sell the 300 Noble ordinary shares you own PRIOR TO Friday, August 1, 2014, if will appear as if the spin-off transaction has had no effect on you at all; the 300 Noble shares you're selling will still have the value of the Paragon "when issued" shares embedded within them. OUT OF SPACE - go to next Reply

  • Reply to

    Yet another question

    by woodfrog8 Jul 15, 2014 3:44 PM
    btdarb btdarb Jul 15, 2014 7:10 PM Flag

    Paragraphs 6 and 7 of last Friday's announcement will tell you exactly what you need to know...

  • Reply to

    Im back.........

    by mdb4403 Jul 15, 2014 11:47 AM
    btdarb btdarb Jul 15, 2014 6:58 PM Flag

    You are indeed back.....on Ignore User status

  • Reply to

    Q2, 2014 Results

    by btdarb Jul 15, 2014 12:55 PM
    btdarb btdarb Jul 15, 2014 6:40 PM Flag

    I don't think they "delayed" the Earnings Release for any particular reason, good or bad. Last year's Q2 results were released on August 8th. I just hope they don't come out with any sort of "we may not get Phase 2 done by year end" noise.....that would blow a big hole in the credibility they're trying to establish...

  • The Events Calendar on PWE's website has now been updated to show that Q2, 2014 results will be released on Thursday, August 14, 2014 prior to the markets opening. These guys had better have some good news on Phase 2 asset dispositions. THEY set the expectation that Phase 2 would be complete "before 2015", and thus far they've announced very little progress on that front. Let's see some details, guys!!!

  • btdarb btdarb Jul 14, 2014 1:07 PM Flag

    I stopped wondering about "a merger with another company" last November....

  • Reply to

    oil up today

    by georgia_stock_investor Jul 10, 2014 1:22 PM
    btdarb btdarb Jul 14, 2014 12:42 PM Flag

    Conveniencestoreistan?

  • Reply to

    Catty Prediction

    by tradefordollars Jul 11, 2014 2:02 PM
    btdarb btdarb Jul 11, 2014 2:38 PM Flag

    Exactly right, but who cares what he#$%$ does? You're better off just "Ignore User"ing him/her/it....

  • btdarb btdarb Jul 7, 2014 12:46 PM Flag

    Greetings, gsi. Debt will no longer be as big an issue, and some risk to the company will be taken off the table when and if PWE completes the asset sales it laid out in its turnaround plan. Some elements of the article you referred to seemed to hint at the possibility that those asset sales might not be completed by year end. I sincerely hope Roberts and George are not thinking about departing from their announced plan already; that would be a BIG mistake, and would hurt the credibility they're working hard to establish....

  • Reply to

    Last 10 Posts from tradefordollars ~

    by twoblackcats33 Jul 2, 2014 7:34 AM
    btdarb btdarb Jul 2, 2014 3:15 PM Flag

    For God's sake tradefordollars, unless you're having fun with it, why do you keep responding to this clown? Just put him on "Ignore User" status and be done with it. He's an idiot....I know it, you know it, and even he probably knows it, There have got to be more profitable ways of spending your time.....

PWE
9.24+0.12(+1.32%)Jul 28 4:02 PMEDT

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