It's already out on their site. More stark depressing and gloomy stuff. Clearly they are expecting insolvency based on their presentation. They themselves are basically saying the future has little hope.
Folks aren't waiting around to grab the last twelve cent distribution. The selling will intensity massively after that final distribution and most likely send the units/stock to $1. Hyped story about Saudi's cracking on output was a sham; Saudi's will NOT cut production until they blow through all $680 billion of their reserves.
Presentation offers a further stark and gloomy forecast. To me they are preparing everyone for insolvency and eventual bankruptcy. Yes I know their debt isn't an issue till 2019, but clearly something is seriously wrong with management's ability to run this company and/or relate to their shareholders.
The schizophrenia of the oil market is at a level never seen before. Basically no one knows where oil is headed for the near term. Long term it will soar, but who will still be around when the tide changes? We are in uncharted waters.
So it all boils down to what is considered "substantially identical". Line to Lnco could be considered such; hard to know since it's so subjective.
But isn't there language in the rule that the companies can't be materially the same....or something along those lines? No pun intended
Blah blah blah. Westport has done nothing...and I mean NOTHING...but screw shareholders for the last 3 years. The dilution will be staggering; you can bank on the Fuel Systems shareholders bailing ASAP. This is nothing more than another ploy by Demers to keep his fat salary in place for a couple more years before the bankruptcy. Just one man's opinion....
DO has a pretty decent deep water position, and while their rigs are old ala PGN, DO has some newer soec builds in their fleet. DO debt is backed by their parent L and has NO WORRIES at all in that regard. Trying to compare is illogical.
If the financials are accurate, at the end of 2014 PWE had 3.6 billion to total debt and over 8 billion in assets. That leave 4.4 billion of equity; but lets assume the property holdings are worth 40% less due to the current environment, so make it 4.8 billion of assets. That leaves equity roughly at 1.2 billion. The market cap around 1/4 of equity. I say it's a buy, but the common currently is worth around $2,80 max. Sad to see PWE and the industry in such poor condition.
Damn fubar that's a hell of an idea. I'd love to see that unfold. To have Stilley and his band of idiots filling their pants in fear of being dumped....priceless.
I hear you, but satellite imagery of that field is pretty telling. And everyone knows they're pumping trillions of gallons of water in that field to get the oil to the surface.
Lmao you're a bit late to the party ain't ya?? Sure oil could go to 25; I predicted it would myself, but it wouldn't stay there long; supply destruction would be like a tsunami. But by the time the turn comes it'll already have burned anyone on the wrong side of the trade.
Trust me, Ahlstrom hasn't a clue. A more apt description would be investor unrelations. The guy sounds like he's short the shares. Same goes for management; to just stand by and let the common disintegrate like this is beyond inept; it's gross mismanagement.
LINE will never hit $30 again. LINE will never hit 20 again. There is a better than 50% chance LINE never hits 15 again.
Very possible. If supply dries up fast then LINE has a shot, but it's pretty bleak. Ghawar has to be about ready to start sputtering, and when that does finally hit the globe; watch out. Forget $100. You be lucky if oil doesn't soar to $200
Sigh...here we go again. LINE will never see $20 again. Ever. I doubt it will ever see $15 again, but that at least isn't out of the realm of possibilities if oil can get back to $75-80. As far as LINE hitting $50; you must be smoking some serious dank weed or peyote. Geez.