Sun, Apr 20, 2014, 12:56 AM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Energy XXI (Bermuda) Limited Message Board

greenytheterp 30 posts  |  Last Activity: Apr 15, 2014 11:49 AM Member since: Jun 28, 2003
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    Closing of EPL deal and forecasts

    by greenytheterp Apr 15, 2014 12:37 AM
    greenytheterp greenytheterp Apr 15, 2014 11:49 AM Flag

    You have a fair point. I do agree with you that Schiller and team have not executed well over the last 2 years. The integration will be critical. I am hopeful that the EPL management team will help bolster the ranks. The potential is in place for this to be very successful but execution is the key.

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • greenytheterp by greenytheterp Apr 15, 2014 12:37 AM Flag

    Now that the record and stockholder meeting dates have been set, we are all set for an early June closing which will be good news. Once the stockholder's approve the deal, I believe it will close within a week as I am not aware of any additional regulatory or governmental approvals that will be required (antitrust clearance was just received). Unless there are financing delays, they will want to close as soon as possible for many legal and business reasons.

    Unti the merger closes, I think the stock price will pretty much stay in a trading range. I believe once the deal closes the stock price will start moving up as the deal constraints will be gone, Earnings and production for the quarter just ended are already expected to be weak per Schiller due to the shut-in of production for maintenance/expansion/upgrades and I think there will be a muted reaction to these results with the merger pending, Hopefully we see more positive hedging this past quarter, some drilling news and a production number that is down but not off the cliff.

    For the fun of it, here are my thoughts for the rest of 2014. The next few quarters in my opinion should show production growth, assuming no major hurricanes, extended shutdowns or integration delays. In addition to the exciting possibilities related to the EXXI and EPL properties, I also believe the ultra deep concept will finally be proven and producing by the end of the summer which should really benefit EXXI. That venture has been a long haul filled with large expenses and many setbacks, but should finally allow EXXI to monetize this investment maybe by the end of the year. These proceeds could be used to pay down their debt load which is needed. I think if played right by Schiller this stock could be back in the 30's by the end of the year. If oil stays above $100 and near $105, there could be additional upside.

    Do people think I am too optimistic or way off base or do you agree with me?

    Best to all,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    Looking more like a buyout.....

    by johnandjoy1 Apr 11, 2014 5:14 AM
    greenytheterp greenytheterp Apr 11, 2014 7:56 AM Flag

    That makes no sense. Presumably any buyout would be for a higher price than now. Also, exercising an option and holding is a risky move if you remember what happened to people during the internet bubble in 2000. Under any deal the options would be either exercised at closing or converted into options of the new company (if public). Try to make sense before posting garbage.

    GreenytheTerp

  • Reply to

    Shares Short

    by bill3442li Apr 10, 2014 5:51 PM
    greenytheterp greenytheterp Apr 10, 2014 11:09 PM Flag

    Is it merger arbitrage?

    Sentiment: Strong Buy

  • greenytheterp greenytheterp Apr 7, 2014 9:15 PM Flag

    I don't think a buy back is possible when they are taking on more debt to do this transaction. The credit agreements will restrict that type of activity.

    I agree with Dormie that this is a great time to get in. The combination of these 2 entities could be quite powerful, so long as management doesn't mess the integration up.

    Best to all,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    The prospectus for the merger has been filed

    by dormie18 Apr 1, 2014 4:40 PM
    greenytheterp greenytheterp Apr 2, 2014 9:14 AM Flag

    Thanks, Dormie. I also found it an interesting read. I particularly enjoyed finding out EXXI was in pretty advanced merger discussions in the spring of 2013 with another public oil and gas company. Not sure who that was, but found it intriguing. Also, it is an obvious result, but the background did explain that pursuing properties in Malaysia were abandoned once this deal started moving ahead. In the end, I think this merger will be very positive down the road for all of us.

    Best,

    GreenytheTerp

    Sentiment: Strong Buy

  • greenytheterp by greenytheterp Mar 26, 2014 11:26 PM Flag

    In addition to the benefits from acquiring the sour gas facility, DEJ gets approximately 80 BOEPD which if my calculations are right is about a 12.5% increase from current production at end of 2013 (620 at end of year). Seems like a no-brainer to me and helps them line up other deals. As Oilman has stated I could definitely see them lining up new wells and JV's and doing a capital raise. Have been in the stock for about a year and in December was not very optimistic. However, the last week of releases have been well-timed and choreographed. Seems to me it is all set for the big announcements. I could see a run up to .45 in the near-term of 6 months.

    Best to all,

    GreenytheTerp

    Sentiment: Buy

  • Woke up this morning and 1st piece of news I heard was a large oil spill in the Gulf. My heart stopped thinking of the BP spill which killed us and also hurt the DJ #1 venture when the new regulations resulting from the BP spill caused them to cap the working well. I wondered if ithis spill was due to an EXXI or EPL well issue. My Heart restarted when I learned it was near the Houston area and was due to a barge collision and not an oil well. Hopefully it gets cleaned up without too much environmental damage and no impact to drilling regulations.

    Upward to $35...

    Best to all,

    GreenytheTerp

    Sentiment: Strong Buy

  • greenytheterp by greenytheterp Mar 18, 2014 9:50 PM Flag

    Looks like the stock is going back near the price right before the merger announcement,. If it does, I could see it climb more as further analysis on the deal is undertaken. After doing my research, I believe this is a very good transaction despite the premium and BOED price they paid. Schiller has positioned things well. Now we just need him to actually execute (And hopefully finally hear some good news on the ultra-deep). I am hopeful.

    Best to all,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    How come?

    by rharringtonx Mar 12, 2014 11:11 AM
    greenytheterp greenytheterp Mar 13, 2014 12:03 AM Flag

    Interesting analysis Heymee. Although in the short-term the stock price will struggle, this does look like a promising acquisition. I agree that the different management teams expertise should be a huge lift. I am hopeful....

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    Deal

    by greenytheterp Mar 12, 2014 8:44 AM
    greenytheterp greenytheterp Mar 12, 2014 11:08 AM Flag

    Lots of volume on this one. Latest action seems to be positive. I did do some research on EPL and they do have some really good assets. Hoping this works out well.

  • greenytheterp by greenytheterp Mar 12, 2014 8:44 AM Flag

    Not sure how I feel about this deal. I was hoping EXXI would be acquired for such a premium. I think EXXI management did this deal to avoid being taken over themselves. It does create an interesting company with serious production. Unlike the Exxon deal where huge infrastructure coats were going to occur, this one seems like it should be more of a plug and play deal. Whether Schiller and team can execute on the integration and strategy is a very valid open question. I am hopeful that EPL has a management team that can add value and help them but have no knowledge of them at this time. I assume the stock price will be stuck until the transaction closes but suspect this whole process has a lot more to play out (I,e, stock ratio renegotiation, other suitor goes after EXXI). In the end, no matter what route occurs, I think this will work out well although it may take longer than we hope.

    Sentiment: Strong Buy

  • Reply to

    Anyone still follow this?

    by greenytheterp Mar 3, 2014 10:33 PM
    greenytheterp greenytheterp Mar 11, 2014 10:33 PM Flag

    Never say never, my 2 cents. These microcaps can be manipulated and one day you can see it pop. When it does, I hope to be fast enough to sell into it!

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    Reason for move up

    by realbjessup Mar 3, 2014 11:52 PM
    greenytheterp greenytheterp Mar 10, 2014 8:52 AM Flag

    Good analysis Real. I share a similar view . Now we wait to see if Schiller and team can execute on the plan. If so, this stock could move quickly as it is way undervalued in my view. I am hopeful.

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • greenytheterp by greenytheterp Mar 3, 2014 10:33 PM Flag

    I bought this stock a number of years ago when I first heard they were getting the licensing rights to Who Wants to be a Millionaire. Sadly I can't even remember the country the rights were for but want to say it was China. It looked pretty good early on for me but then I held on too long and watched the stock go down the drain. Ultimately it was a terrible investment and I lost a lot of money. Since the stock Was so small and almost worthless, I figured I would just keep the shares and see if the stock rose one day. As with these small penny stocks they can swing wildly very unexpectedly. I pretty much wrote the investment off and even now my E*Trade account doesn't even show the name of the security anymore and just uses the CUSIP number. However, I have noticed of late a bit of an uptick in volume. It has not really moved the stock price much the ask price has reached .001 and my guess it will reach that level soon.

    I was wondering if anyone still follows this stock and if so, is this an actual operating company or one in winddown mode. Thanks in advance and best to all.

    GreenytheTerp

    Sentiment: Hold

  • Reply to

    Post-Vail Summit comment from Credit Suisse

    by dormie18 Feb 22, 2014 6:48 PM
    greenytheterp greenytheterp Feb 23, 2014 10:42 PM Flag

    Thanks, Dormie. Seems like a fair assessment.

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • greenytheterp greenytheterp Feb 18, 2014 11:01 AM Flag

    Excuse me if I missed it, but has CTSO publicly stated a secondary offering to be completed on March 6th? I don't recall seeing that.

    Best to all,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    Downtime

    by greenytheterp Feb 9, 2014 10:50 PM
    greenytheterp greenytheterp Feb 15, 2014 12:44 AM Flag

    Real,

    I think you may be right on the number of rigs. The increase in rigs should be a big positive. Agree on the ultra-deep being a key near-term factor.

    Not sure if you saw today's Mötley Fool article but it speculates as to EXXI being a possible takeover target. I have always thought that and that is partly why I am still in the stock. It would not surprise me if that were to happen after the ultra-deep is proved and by year-end. Acquiring this stock for $35 would be a steal for a large oil company like Chevron or Exxon (or even Freeport).

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

  • Reply to

    Upgraded….

    by play_tow Feb 12, 2014 10:40 AM
    greenytheterp greenytheterp Feb 12, 2014 10:52 AM Flag

    I agree. I think with the stock dropping so much over the last 3 months that this stock is an easy recommendation for them now.

  • Reply to

    Downtime

    by greenytheterp Feb 9, 2014 10:50 PM
    greenytheterp greenytheterp Feb 12, 2014 10:50 AM Flag

    Doc,

    Welcome back. Still here and think is a good long-term buying opportunity. Have been playing with options to supplement core holdings. EXXI has struggled since you left and there are many concerns that senior management can not execute. I like their properties and potential but production has not grown as expected. Hopefully with more rigs being used (increase from 2 to 4) and proving of the ultra-deep, along with a pending acquisition, this stock will move back up and gain attention. The Gulf of Mexico is not a favored spot right now but I suspect this will turn soon.

    Best to you,

    GreenytheTerp

    Sentiment: Strong Buy

EXXI
23.54+0.08(+0.34%)Apr 17 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.