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Penn West Petroleum Ltd. Message Board

fishinanddreaming 223 posts  |  Last Activity: Jul 18, 2014 10:46 PM Member since: Oct 2, 2007
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  • Reply to

    WTI UP $2.60 After Hours

    by ador Jul 17, 2014 4:36 PM
    fishinanddreaming fishinanddreaming Jul 18, 2014 10:46 PM Flag

    ador was right, oil was up a total of 2.60 for the day yesterday. I loaded up on PWE as I view anything under 9 as a sure buy. I was (foolishly ?) expecting mid 9's today, but PWE disappointed me.
    I'm not sure why PWE is so weak. The most likely explanation is the big decline in NG prices. I know PWE is trying to portray itself as a "light oil" play, but in reality, It still almost half gas. It could also be related to the political thwarting of Kinder Morgan's expansion of Trans Mountain. PWE will be a huge beneficiary when this project is operational. The U.S. is unfairly screwing TransCanada's Keystone, so why shouldn't Canada unfarily screw Kinder's (U.S. company) Transmountain ? Its their right to retaliate. We (investors and energy consumers) pay the price of Warren
    Buffet's political contributions.

  • Reply to

    Runoff Notes Redeemed

    by fishinanddreaming Jul 15, 2014 10:14 AM
    fishinanddreaming fishinanddreaming Jul 15, 2014 4:27 PM Flag

    Some brokers steal interest for a day or two. Some actually charge a fee.
    Yes, you'll get your tomorrow most likely.
    I miss earning 13% !
    Anyway, things are getting close to "crunch time" with WMIH...today I noticed on the bid a botique firm that represents hedge funds who want anonymity. Could it be Tepperman wants more shares ? He has so many "independent" legal entities, that he can always hide under the 5% reporting limit. If not him.... maybe its irengineer who is accumulating 4.9% of WMIH. I haven't seen his bashes lately. Does he have enough shares ? I wouldn't be surprised if the big guys made some "gentlemen's agreements" (its illegal, of course) that limits how many shares each would accumulate before the deal goes public. This way they don't have to compete on price. Just wait for naive retailers to sell to them at the bid.

  • fishinanddreaming by fishinanddreaming Jul 15, 2014 10:14 AM Flag

    I just had almost all of my first lien notes called at 100% of face value.plus interest of %1.59 (13% for 45 days). I'm now left with a token amount of 1st, and my original 2nd.

  • Reply to

    When Will We Get Some News or Announcement ???

    by cpcpension Jul 10, 2014 11:08 AM
    fishinanddreaming fishinanddreaming Jul 13, 2014 7:18 PM Flag

    Hopefully Jaimie now knows that.

  • Reply to

    Easy money

    by fred_red_oak Jun 30, 2014 1:20 PM
    fishinanddreaming fishinanddreaming Jul 12, 2014 8:41 PM Flag

    So many people arguing and criticizing. What Fred means is that even it the price falls below the strike price, he is confident it will go back up later on, so even if he is forced to buy a the exercise price, he will patiently wait (that what he means by GTC sell order) and eventually sell higher.

    I am similar minded. I just bought some shares, and I'm also confident it will return to higher levels. Meanwhile, while I wait, I collect 30 cents per quarter, and I think there is a good chance the div. will even be increased.

  • Reply to


    by jdom4 Jul 7, 2014 8:30 PM
    fishinanddreaming fishinanddreaming Jul 8, 2014 11:59 PM Flag

    I'm predicting the div. will be 43 or 44 cents. 45 is less likely, but could happen, and it will be welcome by all.
    But longer term, we'll be getting some serious raises in dividend. We get 50% of all "growth" in KMP, and in the next few years, KMP has some very large investments that will start contributing to distribution, hence huge growth.

  • Reply to

    WMIH Runoff Notes...I've got cash

    by marymbobh Jul 2, 2014 11:49 AM
    fishinanddreaming fishinanddreaming Jul 4, 2014 12:05 AM Flag

    Roger, perhaps you didn't understand. Everywhere where I wrote "$X per share of WAHUQ", multiply X by the number of WAHUQ shares, and you should get the same for your situation. By dividing everything by the number of WAHUQ shares I own, I accomplished 2 things:
    (1) Made my numbers "universal", everyone can compare with their own by multiplying by the number of their WAHUQ shares.
    (2) Hide the number of WAHUQ shares I own, so you won't laugh at how few I have (jut kidding !)

    I hope the detailed breakdown of the numbers which I posted (and it was a lot of work) is helpful for everyone. Happy 4th of July Independence Day to all. And remember: "Freedom isn't free !"

  • Reply to

    WMIH Runoff Notes...I've got cash

    by marymbobh Jul 2, 2014 11:49 AM
    fishinanddreaming fishinanddreaming Jul 3, 2014 6:00 PM Flag

    Please do. Its nice to confirm that we're all being treated equally.

    By the way.... Is it just me not paying attention....or is it true that the bashers have taken a break ? If so, is it just that they are mourning their boss' cancer (I doubt it, its like piranha, if one of them gets wounded, they just eat him alive !), or was today the last day to buy shares at 50% discount ?? Ha, ha... even fishin' - and - dreaming is starting to dream :)

  • Reply to

    WMIH Runoff Notes...I've got cash

    by marymbobh Jul 2, 2014 11:49 AM
    fishinanddreaming fishinanddreaming Jul 3, 2014 2:44 PM Flag

    Before the RON were distributed, my trust statement showed they owe me $10.53 per WAHUQ share, as of 2.1.14. After distributing $2.89 per WAHUQ share of 1st notes, and $0.78 per WAHUQ share of 2nd notes, and adding $0.05 per WAHUQ share of interest, I have $6.90 per WAHUQ share of claims left as of 5.1.14
    (The math is "off" by 1 cent due to rounding errors).

    (1) I think that's quite clear. Everyone can compare their experience to mine using my numbers. Don't forget to divide all $ amounts by the number of your WAHUQ shares.
    (2) Considering that I actually got $3.33 per WAHUQ share of 1st notes (because of $0.13 per WAHUQ share of interest, and a 10% discounting of the face value, and $1.04 per WAHUQ share of 2nd notes (because of $0.03 per WAHUQ share of interest, and a 22% discounting of the face value, I'm not complaining !

    Note: the total proceeds are $4.37 per WAHUQ share, they still owe us $6.90 per WAHUQ share, so without future interest to come, and assuming they fulfill their obligations, that's a total of $11.27 per WAHUQ share.

    I'm also assuming that the notes are worth approx. 100% of face value (either by redemption, or sale on the secondary market). They are still secured by (Hawaii regulated) trust accounts with solid assets, so that's a pretty good assumption unless Willingham grabs our money and runs for Brazil. But He is expecting to make millions without breaking the law and losing his U.S. residence, just from WMIH, so I'm not worried.

    As for LTI, Kosturos and Weil are LEGALLY stealing so much money from our pathetic BK system, that they also have no incentive to break the law, grab our trust money and head for the beaches of Rio.

    So in a convoluted, pathetic way, one can say that our system works. No, that's a stretch.... I just got lucky buying WAHUQ at $3. I feel for the innocent victims who paid 20 or $30, because that's what they're probably really worth (dirty deal between judge and hedge funds basically stole the difference).


  • Reply to

    WMIH Runoff Notes...I've got cash

    by marymbobh Jul 2, 2014 11:49 AM
    fishinanddreaming fishinanddreaming Jul 3, 2014 1:59 AM Flag

    Marty, the notes were issued by WMIH (their mortgage insurance subsidiary, to be precise). So the fact that some were called (i.e. converted to cash) is none of the LTI's business. That's between the owner (you and me) and the issuer (WMIH). LTI owned them (was gifted by WMIH a while ago) and gave them to us.

    Yes, I agree this whole thing was very confusing, and we were kept in the dark because LTI's press release was not detailed enough to explain the distribution of notes to us. My complaint is that they specify how many notes in total, but what would be more useful is how many per WAHUQ share, so we don't have to figure out how many WAHUQs existed and divide by that. And WMIH didn't make it easy to figure out the call information, although some posters told us about it and say there's a second wave on 7.15.14 so there must have been some (EDGAR, maybe ?) release about it. But I didn't get any letter.

    In the end, this proved how valuable the board is to us, as our best tool was to compare numbers with each other. Thanks to all who shared the info they had.

    This is why the bashers like to dilute the board with nonsense and try to inflame fights (to waste the bandwidth).

  • Reply to

    First lien bond redemption

    by lost_in_bkk Jul 1, 2014 8:34 AM
    fishinanddreaming fishinanddreaming Jul 1, 2014 10:38 PM Flag

    Today I had 77% of my first lien notes redeemed at 100% face value plus 13% annual interest for 30 days (1.08333 percent). I now have more of the second lien note than the first. Everybody else got a similar situation ?

  • Reply to

    Someone did not like these posts...

    by marymbobh Jun 26, 2014 10:28 AM
    fishinanddreaming fishinanddreaming Jun 28, 2014 12:06 AM Flag

    Again trying to mislead your "audience" (as if anyone is still taking you seriously).
    (1) They gifted themselves a pile of stocks last year, too, didn't they ? And never sold.
    (2) They don't have to make the restriction 1 year. The BOD can do anything they want.
    If they want, they can make it "restricted" for 90 days. They can also print themselves options
    with no restrictions. And as the "scandals" showed, many have even BACKDATED their options.
    They could also make ZERO restrictions, and the only consequence would be that WE
    (WMIH) might have to pay income taxes on THEIR free stocks.
    (3) You know that Wall St. is the Wild West. These guys are being very gentlemanly in their
    behavior. I saw options that insiders exercised and sold (By Credit Suise) even at above the
    daily NYSE high for that day. How did they do it ? Wall St. does whatever they want. They
    probably sold it to the some mutual fund or pension fund they manage. And "restricted" stock....
    ha ha , I've seen it exchanged for Bermuda USD accounst without a 1099.... so don't tell us
    "they have to" this, "they have to" that. You know that's all B.S.
    The BOD of WMIH are exemplary in their behavior, and are long term investors in WMIH, just
    like us.

    For the Nth time I ask: WHO DO YOU THINK YOU'RE FOOLING ?

    Don't you realize that the ultra naive grandpas and grandmas have already sold ? The shareholders that are left know the game. Its over.

  • Reply to

    Why not converted ?

    by fishinanddreaming Jun 8, 2014 12:24 PM
    fishinanddreaming fishinanddreaming Jun 27, 2014 9:32 PM Flag

    Hello ! Anyone still alive on this board ?
    Anyone know what's up with the dividends (both common and preferred) ?

  • Reply to

    Someone did not like these posts...

    by marymbobh Jun 26, 2014 10:28 AM
    fishinanddreaming fishinanddreaming Jun 27, 2014 8:01 PM Flag

    So to make sure I understand what you're trying to say: You and Mary are "arguing" whether WMIH is worth only $10/share or the full $30/share (based on whether when accountant report X dollars of NOLs, are they referring to the loss or to the tax payment owed back ?), and you're asking me to take sides ? I don't really care which one of you is right, as I said, above $10/share I will donate to the disabled veterans. Maybe I should throw you a few thousand bucks as a tip, too, considering your nonstop propaganda machine possibly helped me buy so many shares under $3.

  • Reply to

    Someone did not like these posts...

    by marymbobh Jun 26, 2014 10:28 AM
    fishinanddreaming fishinanddreaming Jun 27, 2014 7:56 PM Flag

    Another deception. As I pointed out a few weeks back, WMIH's annual proxy statement explains how David Teper split his vast holdings amongst many funds, limited partnerships, and his own personal account, but WMIH does total them all up and considers it a single "group". SEC filings also confirm these facts. Similarly for Greywolf. So please stop trying to deceive.

    And the fact that the BOD is NOT selling their shares is a great sign. They could easily grab a no-risk instant 300K cash reward (per person), But instead, choose to "risk it" on this "risky" (according to you) investment. But my interpretation of the facts is a bit different. They know the stock is worth many times more than the current depressed market price of $3, and they (like me, what a surprise) won't less under $10/share. By the way, if you do a little research, you'll find that none of them is really wealthy, and I suppose that for people at their wealth level, 300K is still a "lot of money", so if they weren't really sure of the value of $10+/share, they would "take the money and run". So, once again I ask: WHO DO YOU THINK YOU'RE FOOLING ? Do you think there is anyone stupid enough to fall for all the distortions, partial truths, and outright lies ?

    No go back to your "lake house", I think its clogged and sewer is spilling to all the other rooms in your house.

  • Reply to

    My Word on NOLs

    by fishinanddreaming Jun 26, 2014 10:17 PM
    fishinanddreaming fishinanddreaming Jun 27, 2014 7:47 PM Flag

    Maybe they bill someone by the hour, but not WMIH.
    Blackstone is working for us on a commission basis only, and KKR effectively also, since their only compensation is in the form of below market options on our stocks. We don't pay anyone by the hour. Because our stock is so promising, we don't have to.

  • Reply to

    Question about Wmih's Future

    by howdie_doodie_tyme Jun 27, 2014 11:02 AM
    fishinanddreaming fishinanddreaming Jun 27, 2014 4:23 PM Flag

    No, but there is only 1 person on earth left who is not smart enough to quit his job and hide before Jaimie invites him to a meeting on the 50th floor of a skyscraper that has sealed windows, but that JPM employees seem to find a way to fall through. When They invite you... don't go. Head for Iowa or Kansas, and never mention WMI or JPM again. You new name: Bill Sue.

  • Reply to

    Question about Wmih's Future

    by howdie_doodie_tyme Jun 27, 2014 11:02 AM
    fishinanddreaming fishinanddreaming Jun 27, 2014 12:20 PM Flag

    Yes, I know, you're spending endless time and energy, and losing sleep, just to help us, so we don't pay too much for a stock that we don't understand. Thanks for your altruism.
    P.S. your nose just grew by 1 more inch...

  • fishinanddreaming fishinanddreaming Jun 27, 2014 12:16 AM Flag

    That's how low some people are. Taking advantage of innocent victims who, for health or financial problems, are almost forced to sell their shares at almost nothing. Or, after suffering for 6 years, some are literally dying of old age, but instead of leaving their valuable shares to their children, these crooks are scaring them to sell on the cheap. I also love to make money. But at the cost of doing so much evil ? It's not worth it. Its like selling your soul to the devil for a pittance. You can make money (enough to provide for your family) and still be a decent human being.

  • Reply to

    My Word on NOLs

    by fishinanddreaming Jun 26, 2014 10:17 PM
    fishinanddreaming fishinanddreaming Jun 26, 2014 10:44 PM Flag

    (1) They're not experts at hiding. But they ARE experts in not violating tax regulations. If they act too early
    it can jeopardize the precious assets. Also, if the management open their mouths it can, too.
    We can write whatever we want, we don't represent the company and it is not liable for what
    we write.
    (2) Are you embarrassed to use your irengineer ID now ?

9.20+0.47(+5.38%)Jul 22 4:02 PMEDT

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