Institutional ownership has really increased. I hadn't looked at the Yahoo figures in a while, but there was a time a couple of years ago when my 400K shares would have made me one of the largest 10 or 12 listed holders -- no more. There are currently plenty of funds and institutional owners above that 400K share mark. Wow!
Probably not today. They need a chance to "analyze" -- i.e. tell their own people to buy, before letting the public in on the information.
with the new reserve figure standing at approximately 300 million bbls, assume for the moment that Miller pulls 1 million bbls a year from their wells (they are only on pace to pull about 500K/yr during next CALENDAR year), then Miller would be in business for the next 30 yrs before depleting their reserves.
Miller is not going out of business any time soon!!!!!
Oh, Bigargoo, if you want to sell me the 5000 shares that I just bid at 8.25 in pre-market and try to buy them back later, it would be my pleasure to sell them to you.
P.S. I don't think you will be able to buy them for less than 8 again....ever.
Don't know what Sam is doing, but time is a wastin'. I'm going to be a buyer today. No one can predict the price now. Miller just doubled it's value. With the market cap of $333 million and this increase in reserves about $270 million -- wow! Next week is options expiration week, today after the bell is the company report. This stock could reach or exceed 10 or more in the next week. The market is up today too -- oh, and next week starts the Santy Claus effect. Sorry, I'm babbling, happy, but babbling.
Management will have the rosy outlook you are requesting. This earnings report was actually very good. If it were not for depreciation, depletion and amortization, Miller would have had an extremely healthy profit this quarter. Whether those that are short are willing to admit it or not, this may well be one of their last good opportunities to cover. There are too many positive catalysts coming in the next several months(lower financing interest/restatement of reserves/couple of new wells coming on line, and now the acquisition of the Armstrong cook inlet gas company -- with earnings that will be immediately accretive to earnings in March). Don't be too surprised if we are higher Friday morning after the Thursday PM conference call.
When you back out the 9 million that Miller used as depreciation/depletion or amortization, Miller actually had an operating profit of 5.9 million EBITA or about 14 cents per share. It also looks as though analysts had been expecting a loss of about 18 cents a share just looking at Yahoo analyst estimates, so this should be a real positive tomorrow. Considering the fact that Sword will be running an entire quarter next earnings period, it looks as though Miller is turning a real profit right now. Considering revenues for the quarter were 18.8 million, apparently the Alaska tax credits have not yet been received, and will presumably add to next quarter's estimates. I guess that we will find out a lot more answers on Thursday's 4:30 PM conference call.
I emailed Derek Gradwell at MZ and the date and time of the conference call has not yet been set.
I called the company and the secretary answering the phone checked and confirmed that it was canceled.
Two front page articles of interest. The first of course contains a rehash of the North Fork acquisition. They do say in that article that they expect to close the deal by March 1st. 3 million deposit, potential penalties up to 10 million more if they do not complete. Most of the rest found in the Miller press release.
Second article gives an in depth look at Hilcorp, and their plans for Alaska. They said that not profitable to produce gas for the 3-4 dollar price found in the lower 48 states, that gas for them continues to be profitable at current Alaskan prices, and they have enough for the near future. They also talk about their oil production, and that they have almost tripled their production in the past 2 years, and will continue to develop this area. they have 310 employees currently in the Alaskan area -- and 98 percent are Alaskan residents. Very positive article for Hillcorp.
Maybe I'm too excited for my own good here, but with the price rise on Friday we crossed the 20, 50 day moving averages, and are way past the 200 day moving average. The stock has a good headwind, and should go up to that 8.50 resistance point we hit recently for a second test run at that number. A good bit of resistance there -- but good news on the financing front, and we go up up and away.
I think that they do too -- but they probably needed a chunk for a deposit, and maybe even the money until the alternate financing becomes available. I think you are right that new financing comes down the pike within the next 60 days -- maybe below 10% now that they are "diversified". Ho! Ho! Ho!
The purchase of these nearby gas wells is probably smarter than trying to buy some wells in either Tx or Arkansas. They would have become too overextended. I guess that they now have enough production with the purchase of these assets to ensure their bonuses -- provided of course that they price of the stock rises.
If you take the 883 of Sword, and add to existing production, it comes to just over 4000 boe, and with the additional 1167 boe from this new acquisition, they will exceed the production number that they need. Now, the stock price. Considering that Sword alone increases production by 25% - and then the acquisition another 20% -- the stock price should move up just on proven reserves alone.
They may already have their money through the sale of those series D bonds that went on sale a month or more ago.
over 2000 calls for Feb 7.50's just sold for .70 cents each, and also 2000 10's sold for 10 cents in the last thirty minutes. Someone making huge bets on this stock for February. Without regard to what is causing the purchases -- Sword? Otter? -- maybe even new financing? All or any of the foregoing, I'm real happy.