Is this one clear enough for even you to understand gasoil?
Explanation of Responses:
( 1) Mr. Sherman purchased a total of 25,000 shares on the open market on September 17, 2014, at an average price of $4.98 per share. These shares are directly held by Mr. Sherman.
( 2) Mr. Sherman, indirectly through the Arthur H Sherman - Rollover IRA, purchased a total of 5,500 shares on the open market on September 17, 2014, at an average price of $5.05 per share.
Explanation of Responses:
( 1) Mr. Boruff purchased 100,000 shares in the open market on September 18, 2014 at a weighted average price of $5.03.
Is this excerpt from filing clear enough for even you to understand?
Explanation of Responses:
( 1) Mr. Sherman purchased 4,500 shares on the open market on September 19, 2014, at an average price of $4.80 per share.
gasoil, can you really not find the insider filings? You can see them from yahoo just by clicking on insider filings for mill. It doesn't take 3 days to show up. They already filed for the buy on the 19th. A time limit doesn't mean it's illegal to file it earlier. I can't think of such an embarrassing post since someone suggested that Mill would never get a bank credit line and then that the keybank syndicate was too small to honor Mill's credit line Oh wait, that was you also. Maybe you should switch ID's after those whoopers or this new one.
They had lots of consultants helping them with the well pressure issue. There are always employees and contractors involved with the drilling. In any case I don't think the selloff was a big over-reaction. They spent 8 - 10 mil on that well by my estimate out of a 60 mil drilling budget.
There is huge front running going on with seeking alpha for their long and short articles. Seeking alpha pro is a high priced front runners club. No doubt some piled into the short trade right before the article hoping to make a quick killing. That trade got rejected badly on Friday. I'm always happy to see the front running crowd lose money (unless they were smart enough to cover rather quickly). Of course seeking alpha mailed the article out to everyone later in a failed attempt to bail out their high priced front runner's club. Somewhere the world's smallest violin is playing in sympathy for fat cats that lost money on that trade and in the background you can hear me LMFAO.
Pull up the 1 year chart of BPZ. It was a 2 stock in March and spiked higher on some big well results that were disclosed during a conference. I'm not saying that it will happen, but they will be at a conference and I think they are due to announce some well results. Let's see what happens next week.
The Director who got canned complained that Gov Richardson often missed Board meetings. Doubt he's good for much.
Beyond that Sam, the article seems to suggest that Mill has committed fraud by using the SEC mandated reserve formula. That's the part that seems to me to have crossed the line. It would be illegal for Mill to use the bankruptcy asset formula for their formal reserve valuations. They have to use the SEC mandated formula - as they do. The article suggests that they should (or even that they are??) being investigated for failing to do something which would in fact be illegal if they did it. I'm no lawyer, but if I was Mill's legal counsel I'd be taking a hard look at the SEC investigation claims in that article.
I recall a lawsuit where BBX ultimately collected damages against a rather famous analyst for mis-stating holding company capital as operating bank capital (or something fairly minor like that).
You are just a paid basher pngg and you just name call and don't post any content. They have provided updates in the past at presentations. The presentation hasn't happened yet. Let's see what happens. How is it a lie to speculate that they will provide some new well results? A lie would be for example to claim that BPZ has convertible preferred shares (Avi is on ignore but still see the titles of his posts which is annoying). BPZ doesn't even have convertible stock. They have convertible bonds and the conversion price is about 2X the current trading price so that's hardly a big concern.
If I was Mill's legal counsel, I'd take a look at that article. The article seems to suggest that Mill is or will be the subject of an SEC investigation based on how they value their reserves. The article suggests that Mill should use a distressed bankruptcy sale valuation for reserves.
All US listed oil companies follow the same SEC mandated formula for their reserve valuations. Mill of course uses that same formula as every other oil company in it's SEC filings. Never mind about the numerous other errors in the article.
I agree. Current Mill management seems to have viewed joint ventures with suspicion. The new guy could do a lot more in that area.
It's really not that surprising that they ran into problems on the first well dealing with a new geological area. It proves that they need a better well design and I'm sure they will be learn and be better prepared next time.. It's not a 99% loss of oil they can drill for.
Welcome to the exciting world of preferred stock and microcap trading. Day traders are glued to their level II screens. I'm walking the dog or at the Club waiting for things to move - LOL.
The benefit is that sooner or later (maybe sooner in this case) DRL is going to want to raise equity capital. Banks always do. Bank stocks are really not all that exciting and bank investors want dividends (or the prospect of getting them eventually). Having all this preferred stock trading at 25% of par is an impediment to a capital raise since the preferred have to be paid a dividend for the common to get anything. It's easier to sell common if there isn't 250 mil or so of preferred stock ahead of the common.
They won't be getting to 10,000 BPD for a couple of years, but production is headed higher. I'll be happy if they hit the 5K mark in the next 2 or 3 quarters.
Come on now Trace, I haven't even mentioned the preferred stocks lately. I do stick by my earlier comments that at some point the bank is going to make a swap offer for common to the preferred holders as part of their capital raise plan.
Guess DRL is rallying in anticipation of PR getting their #$%$ kicked at the upcoming short trial. I think PR will lose so badly that they won't even have decent grounds for appeal. As I see it the whole Liberal govt entitlement philosophy is on trial. PR has certainly framed it that way with their public attacks on the "millionaire" bank.