True....but the ultimate blowback will be skyrocketing prices once the loss of supply hits home. Doubtful LINE or most of the mid tier US producers live to see the day. This is the Saudi plan....if you hadn't figured it out by now.
You're absolutely correct. Doesn't matter at all. Which is why even a small $20 million buyback would snap up 30% of the shares, and send the shorts running. $20 million! Come on PGN give us a break here.
I really like how Trump has stirred things up and tapped onto the staggering anger a huge portion of the populace has towards our pathetic government, but I still think he is going to self destruct before he gets close to the nomination. It's too bad Fiorina isn't embraced by the population; she would be an excellent choice in my opinion.
I have no choice but to double down. If I have even the slimmest chance of getting this $$ back it was a worthwhile risk. It's only money.
Yeah I took my meds. If you can't do the math to extrapolate the revenue stream at $70, $80 and $90 oil and $3 NG then that's on you. But to disregard the overwhelming barriers this company has to get the units back into even the teens are almost insurmountable. Almost. I understand the decision to halt the distribution to buy back cheap debt; that's a no brainer. What I can't accept are their constant stream of lies and deception all along the way. As for buying two weeks ago, I was going to pull the trigger but the staggering volume and near bankruptcy type action held me off. Now that it seems to have slowed into the low 3's I figured what the hell. It's only money. Try a bit of self honesty and humility sometime. Or is that too alien a concept for you?
Only hope now is to get to $17.....but I really don't think it will ever see the teens again. Oil would need to get back to $90 on a sustainable basis, and that won't happen in time for LINE to get back on their feet.
Wish my stock picking was as good as my predictions lately. PGN management should be ashamed for letting this happen; times are terrible but they could have easily avoided having the stock trade to the point of receiving a delisting notice. Yet another disgraceful job my management. Again.
Certainly no surprise to me. Why would anyone remotely think you could trust the Iranians?? Our leadership is the laughing stock of the globe, and I'd you can't objectively see and admit that then you are truly a moron.
I can't help but laugh as it seems everyone is putting the pedal to the metal on their production even with the price below cost for most. It's an amazingly blatant game of chicken to see who blinks first. Saudis can pump at $15 a barrel and still make money, but the Kingdoms' budget is burning through their reserves like crazy. U.S. Meanwhile is preparing for an onslaught of bankruptcies. Russia and Venezuela are starving. Yet everyone keeps going full speed. Man this is going to be ugly. For everyone.
The end of Obama can't come soon enough for me. Hands down the worst President EVER. I'd happily take even Bill Clinton right now.
Interesting points. Not sure I'd give the theory too much credence, but it might have a small amount of legitimacy.
Probably best post of the day and the #$%$ on this board don't even read it. Lmao!
What a sad sad story of this once thriving company. So many retirees have been scammed by Ellis and Rockov. They have much to answer for. I don't think they will be able to survive much longer.
I just hope they are intelligent enough to be buying up the debt at 70% off. Retire 2 billion of debt for $600 million. Max the revolver to pull it off. Suddenly the company is healthy and ready for battle.
Do not underestimate the level of commitment the Saudi's have to kill off the majority of US producers. They are willing to lose a huge chunk of their national reserve $$ to see this through to the end. The US on the other hand is more focused on hopping in bed with Iran and Cuba than supporting our soon to be short lived energy independence from the Middle East. Keep voting these morons into office fools.
What difference does it make at this point?? $3 more and it's all over. So what is the point of talking $3 or $2? Who cares? Ellis and Rockov have destroyed on mere months what Mike Linn built up over a decade. Frankly I don't know how Ellis and his cronies even have the audacity to walk into the office.