Au contraire! Last quarter's distribution was all from income. They just reduced the divvy to .34 from .38.
for the current quarter. Ed
II'l take a stab at PWE's dour situation. It is analogous to operation "Market Garden" in WWI where Monty's plan to shorten the war turned out disastrous for the allies [especially the British] who were surrounded and decimated on the wrong side of the last bridge. They went too far....Similarly, Canada is at the wrong end of the pipeline [or no XL pipeline at all because of O'Bama]. Oil trickles out some and on trains but it just adds to the expense. Canadian oil has multiple discounts because of the composition that needs amelioration to pass in the pipelines and the additional transportation expense.[unlike the US like in OK, Kansas and Texas] Booming US production diminishes demand and reduces netbacks. Throw in additional weather expenses and weather related production constraints and excessive debt and lack of capital to develop vast areas held [and over paid for?] scattered production and you end up with a company that does not make a profit and cannot just drill and produce its way out of the predicament it's in.
I waited many months for the "review" results. The entire company should have been put up for sale. But it wasn't. The turn around proposed will be long and painful eventually producing a much smaller focused company still with expensive management. Funds have hit the exits leaving the few and the faithful. A six percent divyy is not a compelling to hang around. Personally, I think China and ExxonMobil should just buy Canada.
Found this old post... Now that HBWT has popped up again I'll play it one more time...Was 17 below last night here in the wilderness - no wonder my mind is wandering to a warmer place I remember fondly.... Ed
"HBWT – You bemoan how "boring" HUN is as an investment and even seem to complain about the MB. There is no "trading" for you [or not enough trading and oodles of lost opportunity] just buying on dips and holding, holding, holding.....It's too bad you feel that way. The HUN message board [to me] is reminiscent of summer days on the "Vineyard" where family and friends would gather on the porch around cocktail time, look out over the water, hear the sounds of the nearby harbor and delight in the late afternoon glow as the sun sets and discuss the day's diversions and evening plans. No TV. No radio. No traffic noise. No traffic. Lots of laughter and smiles all around.
Naomi passes bye on the way back from the beach wrapped in her favorite towel and says, "Hi!'. LindM is marveling how good and relaxing his juicy G & T is [while contemplating a second]. Karen serves hors d'oeuvres. I'm bringing out the glasses, opening a bottle of wine and getting it the right temperature. Daffy starts the discussion on some island topic that is debated no where else. We wonder if Dai.Dalos is flying in tonight? Bullwinkle just got back on the island and BKB never left. So where do we go out tonight? Chilmark? Beach Plum inn? Maybe not so far - Le Grenier in VH? Or just stay on the porch as the evening's peace is now upon us. Why not just hold our position? There's no better place to be. " Ed
Missed 4.78 but picked some up at 4.92. Got out at 5.90 [just before the "news"] and back in around 5.25. Wish I could just buy and hold. Maybe now going forward LSTMF will calm down abit. My "Argent" is in a real funk despite good insider buying etc. Ed
WSJ had more bad Aussie news this morning. Aussie dollar down to .89 U.S. New hogh unemployment rate to 5.85%. Only mining sector doing well. Looks like blood in the streets to me. Ed
No worries mate. I just got off the phone with Colleen in Philly [1-866-839-5205] and had the most wonderfully informed financial conversation of all my years. Our timing was bad as two of the major holdings BHP Billiton PLC and Qbe Insurance group both had bad news today and tanked as well as most of the market there. The Aussie dollar also fell to .99 against the U.S.. No change in the divvy policy. Just alot of anxious folks. The composition of the EWA ETF is skewed alot more to financials so they were less affected. I tripled my position just now. Ed
Maybe Australia is going out of business? 10% drop in a couple days off my initial first purchase is, to say the least, alarming. Ed
I prefer brevity. A picture is worth a thousand words. In this case the pictures = reality = truth. A few years ago the global warmists were saying NYC would be under water by 2013. I was dry in Times Square last night. Yeah, I am "quippy". Ed
Just compare photos ot the Polar Ice Cap 2012 and 013. Up like 555,000 square miles. Oh, Oh. global warning? You don't need to be a scientist. Ed
First and foremost this is a "discussion" board. As for PWE there's not much to discuss. I wish there was. Ed