I looked up the ticker LAWS thinking you were suggesting another company. LAWS isn't O&G so I re-read your post 5 times and still can't figure it out. Now with 7 downvotes, its becoming clear you are a bit off kilter.
I'm looking for companies that focus on low costs. I've heard COG has some low costs for its natural gas. I didn't know if this was the best low cost producer in north america or if I should keep looking. If anyone has any insight I would greatly appreciate it. Thanks.
Can anyone chime in how this will hurt PW? I see this is a small company, $10M mkt cap, so what kind of financial impact will this have (on current cash and future business). Thanks for any insight.
Anyone long this stock and want to sell their shares? They aren't worth anything because the final payment is going to record holders of people who owned the stock on the 6th of April. However, I have a small short position I would like to take off my screen. It would be essentially free money to any long to sell shares of a stock that is getting destroyed at a future date. message me on aim or yahoo patricklirish if you are interested.
I just talked to GNI and confirmed its done after the close today. If a market maker wants to quote this on the OTC market its possible it could be there but I don't know if it will be quoted at all.
if its pretty straightforward, why has the trust always said 18 months? i figured there would be legal issues that take time. either way, like you said, its not going to trade at a value worth buying. longs are going to wake up to a nightmare in a week
I think 18 months may be too short. I don't think they can do the legal things they want until the trust is finished. And If I was a trustee winding this down, getting paid by a dead trust held by people who have no clue what they hold, I would drag my feet and enjoy the easy paychecks as I did the legal work. And all those added expenses will drain that $7.7 final payment down. All I know is I would not want to give me money for a random amount paycheck 2 years from now. I expect this to tank down to $6 if it ever gets on the pink sheets.
On 3/27/2015 it will pay its last dividend of $1.3. On April 6th, 2015 the trust will terminate and will stop trading. It may trade on the pink sheets (OTC) but I can't answer that. Over the next 18 months, the trustee will unwind the trust and there will be a final payment around the end of 2016. Currently that is estimate at $7.71 BEFORE fees and expenses that will incur from winding the trust down.
This means if everything goes perfectly, if you buy today at $10.3 and hold it for 8 trading days you will be hoping to get back $9 in the next 18 months. You may get a lot less and it could take a lot longer to get your money if the trustee takes their time and racks up expenses while unwinding the trust.
Google: "gni termination of the trust" and look at the first link which is from the trust's web site. It explains everything.
How do you know Padnos and who is this guy Lou? Are they newsletter people?