First it was "water cut" - then it was "no financing" - then it was "fancy managers" - now, at the beginning of the new phase of deep wells and big oil, the call will be "depletion rates".
ALL wells run big at first, then they settle into a curve (not a line - a CURVE). So a first year 30% decline becomes a 10% decline becomes a 5% decline over the life of the well. That is why we have reserve reports in the first place.
Verado knows who is reading Yahoo and why they sell in panic. He's making money shorting. But there is nothing wrong with David Hall's management of the formation, the formation itself, or the actual decline curves. As per DH the wells are perfoming quite nicely. The Osprey has a dedicated (and OWNED) rig on top of it, just as it always should have, except that Forest was to stupid to buy one. (Oh year, the bashers were criticizing the rig purchase, remember?). That rig gets move around for service work, but we are looking at a timespan of many years, first we need to find where the big oil is.
If Verado is yelling "dry hole" - like he did with WMRU2 - then understand he already shot ALL CREDIBILITY by not recanting after WMRU2 came in.
And from what DH said on the CC (hey, Verado, one of your buddies said he was going to Hilcorp, right? Huh?) RU8 isn't exactly dry, just weak and needing a sidetrack in the future. That's the oil business. CIE and MILL are progressing nicely. The Petroleum News article section "The Explorers" came out last week and explained a lot of what they have been doing, such as holding acreage by doing road and pad building, getting ready for gas exploration, and developing previously "abandoned, discarded assets" into a success story of the little guy making it by smarts and perseverance. In time, the stockHOLDERS will see some wealth.
Miller Energy Resources (NASDAQ:MILL) was downgraded by equities researchers at Casimir Capital from a “buy” rating to a “hold” rating in a research report issued on Wednesday. Other equities research analysts have also recently issued reports about the stock. Analysts at MLV & Co cut their price target on shares of Miller Energy Resources from $9.00 to $8.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Brean Capital reiterated a “positive” rating on shares of Miller Energy Resources in a research note on Tuesday. Finally, analysts at SunTrust upgraded shares of Miller Energy Resources from a “neutral” rating to a “buy” rating in a research note on Monday, June 30th. They now have a $10.00 price target on the stock, up previously from $8.00. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Miller Energy Resources currently has a consensus rating of “Hold” and an average price target of $7.73
MLV didn't give a SELL - just a HOLD, the other analysts covering the stock all reiterated their positive outlook for the company.
There's good things ahead. There at 5100 boe per day (gross). New wells coming on all the time from now on.
One day they'll rework RU8 and we will have forgotten all about it!
Suntrust doesn't have any trouble getting meetings. Bull$#it.
Any wall street rookie who follows this stock knew the 10k and 10q
Would show losses. The street went out of the way to post a "news" blurb.
After the suntrust buy with a $10 target, the run up was a perfect entry point for the shorts.
So here we are. All the people who bought recently with stop loss triggers got taken.
Look at the jokers posting on here today. They want to keep some momentum for covering. MILL will bounce up again. Always has. Some of you people with long positions need to quit bellyaching. Every time a short selling period happens, the holders of MILL get more hardened and learn to hold on.
I've listened to the conference call twice and picked up that there are good things coming in the next year, and soon. They are now speaking in terms of net barrels, not gross. The new reserve auditor said the old auditor jumped the gun and made then disinclude some reserves for a report that is already obsolete, but had to report it anyway.
My gut tells me they knew the market would react to the losses and they were sandbagging good information for later.
Sounded good to me. The selling today is just some homebound speculators. There is institutional support.
MILL isn't acting like the new kid on the block anymore, but rather is an ongoing concern dedicated to constant improvement. I wish they weren't as slow, but they probably have to go through a lot of regulation, etc. I'm giving it time, because I see that the market isn't giving them credit. In time, with 4 rigs working, we will see a lot more production, and because of the successful-efforts method of accounting (not done by their peers) the financial improvements will seem more impressive.
Not so much a promotional company as a real producer.
I listened again last night and picked up on Brawley's attitude- he is a "do-it-right" kind of guy. The addition of him was a smart move and the bottom line will show it.
Refinancing costs make the "loss" seem big and that scares off low-information stockholders. In time that lower interest rate will make the quarterly's look much, much better.
You have no facts, just innuendo.
"Pay by the pound", "you get a feel." Horses$hit.
You make $#it up as you go along. Your in charge of covering a major short. The only other stock I've heard you mention is END. You're a hireling doing chores.
Where's the $2.80 buy in you promised me? I doubt I'll get to buy at $4.80. Once your get your short covered you'll go away. So far your Pps predictions have been worthless, so has your "analysis." You litterely google some old $hit and act like it matters, then you just make $hit up.
I'm asking, give me the numbers of the wells.
Your talking about old tech versus newer tech, and $5 oil versus $100 oil. All they drilled for back then was easy oil - period. When the easy oil was gone the companies moved on. Your facts don't translate into the modern world.
Why are you bothering the poor fools on yahoo? Write to Tesoro, a company with just a lttle bit of experience in the cook inlet. Warn THEM. They're the ones building the pipeline. I think I side with Tesoro.
You're a joke.
I agree. Alaska does give credit for tax losses. But they also give credit in Cook Inlet for drilling expenses.
Annual profits would get taxed away by the federal government, and not returned to shareholders as equity.
We already knew that. You're talking about the quarter that ended April 30. They may have added new production since then, with the new zones in Sword (mentioned in report that they were producing from all three) and with increased gas at North Fork (just a speculation). In addition, there was a mention that RU8 was producing "intermittently".
That's good information. They are also on RU 9 which is the first grassroots well from Osprey for CIE.
There is so much good that can happen, and so much bad behind us. I'm sure suntrust knows the company will show losses, I'm sure the majority of stockholders know it. In time, with this many rigs, the growth will continue to be exponential.
Think about next year, when the pipeline is first opened.
Maybe the call will have some new information.
Report says RU8 is producing intermittently. Also says Sword is
Producing from all three zones.
Losses don't bother me. Now let's hear what the daily production is.
Sentiment: Strong Buy
Pouring through the reports reveals that SunTrust is NOT MILL's primary lender. KeyBank, Mutual of Omaha, Apollo and others. I think the reports show they keep operating accounts at SunTrust.
Verado - your lies are getting old.
And by the way, what if SunTrust DOES have a vested interest? What then are you implying? A conspiracy to defraud? LOL. You've got no game anymore. What happened to the old Verado? You should at least come up with lies that take effort to debunk. Today's lies are lame.
There is certainly no "glut" of nat gas in Alaska. They can sell all they produce and they have a contract in place. There was an article where the local utility was upset that CIE signed a contract to supply natural gas directly to a customer.
The Conoco LNG plant is back in business, and the fertilizer plant will be restarted. That was reported in the local Alaska papers.
As far as the company being an "equity play" - that is just a given. No doubt there are some investors who hope the company will turn a profit, show a big jump, and then they will sell out for a profit. But the management is in service only to the stockHOLDERS - no the speculators and traders. There job is to grow value for the long term, leading to a buyout.
What would this board be without Verado?
It is important for him to be here, or else we would just have old piney, who doesn't have anymore credibility than Verado. According to piney, the company can never have anything go wrong, and according to Verado, the company can never have anything go right.
The truth is in the middle, and I believe weighted toward MILL.
Winter spot market has been as high as $20. Is Verado's argument that the company is producing to much natural gas? If so he has made his point and needs to move on. I don't care if they start making money off solar. There's a potential for wave generators installed on the cook inlet platforms for electric. Money works just fine for me. Bring on the natural gas.
By now MILL stockholders aren't worried about Verado's crew. The short selling is like weight lifting, the share price gets stronger on each dip. Look at today.
$3.86 would make a nice buying day! I'm sure there will be plenty of ups and downs but mill is getting into the big projects now. Big oil and big money is coming as they move from the low hanging fruit into the actual deep oil plays.
Look at next year- where will this stock be in 12 months when the transforland pipeline is about to open? Think about that - when the cook inlet pipeline is reversed and quarterly reports begin to show processing income from Kustatan?
Verado will still be complaining! So what?
Rebates are rebates. Spend them as you wish. Use the check to pay debt.
You used the word "overspending" on purpose because it is a loaded word. It suggests incompetence. Get on the phone and call Keybank. Cancel your Mutual of Omaha insurance policy. Go post on the Apollo bulletin board. Pay some dufus to write an "article" on Seeking Alpha.
But nothing you've done on Yahoo has WORKED. Nothing...
Cash is cash is cash. Ad naseum. All the gullibles are gone. You're game is over.
This company also uses the successful efforts of accounting, so the paid bashers will give false reposts as to the lifting costs.
This is the type of misleading "journalism" the Street Sweeper did- twist facts and omit realities to show a picture of and upside down company with nothing but debt.
Just like Verado did when he claimed state selling logs were the same as production reports, and claimed that wells shut in for maintenance or optimization were actually experiencing steep decline curves.
Of course, over time, with more production coming in, maintenance and optimization will be less and less noticeable. There is upward price pressure still built in, due to the fact that the thesis is proving correct, and the company is systematically growing. The company itself is improving.
I say let the sellers sell and the buyers buy. Let the bashers bash. They do it from need.
$8 by August.
$12 by Christmas.