Updated Fidelity page indicates Fidelity Equity Summary Score for GDP is Very Bearish and Grade is 0.3 Over 10.0 Based on the following ratings. (Please check the the Fidelity Equity Summary Score for GDP.
Sell ratings : (4)
Underperform ratings :(2)
Neutral Ratings :(3)
Outperform Rating : (0) (ZERO)
Buy Rating : (0) (ZERO)
Sell : 5
Before TMS this stock used to be around $11 which was very reasonable because of good production rate at Eagle Fort and limited debt. However after TMS, company has spent over $400 million dollars, basically got nothing except over $400 million debt.
I am very positive if management can find a buyer for TMS who is willing to pay around $200/acre or if they can get sure that stock price will not drop in penny stock range they are going to get rid of the entire TMS free, but unfortunately it is too late. I cannot imagine any existing public company are willing to get in this TMS mess.
Investors and Goodrich management should understand that DEVON is not idiot, they have hundreds of well-known earth scientist compare to one or two at Goodrich, have hundreds of well-educated engineers compare to a few at Goodrich, all these people had investigated TMS with in detail. I believe they had sure that TMS was useless. This is the one of the reason I believe this company stock is going to get down to in range of $3 to $4 sooner than most expected.
Company management is not only hiding Total production decrease at Q2 but also they are giving wrong information about TUSCALOOSA MARINE SHALE well SLC, Inc. 81H-1 (67% WI) well in West Feliciana Parish. well has been decreased more than 14 percent in May and has been decreased more than 40 percent in June.
There's a sucker born every second therefore PUMP, DUMP Hedge funds and Company Management are not in worry.
Pump and dump hedge funds and company management pumping is on progress. They are looking new victims. to DUMP
Artificial Increase of share price after terrible earning just an attempt to pump of this stock by the Pump and Dump Hedge funds, hoping that retail investors may get in this mess in this price range so that they can short at high price range to increase their profit. This Company has been waste over 106 million over the second q, and over 400 million dollars over the year and yet total production decreased over 14 percent quarter over quarter, and yet most importantly loss increased to 0.73 per share for a quarter. . This is a terrible result for an oil company. The cost of the interest increased over 11 million dollars for the quarter. I believe this company should file chapter 11 as soon as possible.
Q2 Company release is as following
“The Company's SLC, Inc. 81H-1 (67% WI) well in West Feliciana Parish, Louisiana has achieved a peak 24-hour production rate to date of approximately 900 Boe/day (96% oil) from an approximate 7,000 foot lateral with 27 frac stages.”
However Official Louisiana State Production data indicates completely opposite as
Goodrich Petroleum Corporation SLC, Inc. 81H-1 (67% WI) well in West Feliciana Parish, Louisiana has produced 23811 bbl oil in April (793.7 bbl/day), 20305 bbl oil in May (655 bbl/day) and 14176 bbl oil in June (472 bbl/Day).
These result indicates that company is lying about production rate for the SLC, Inc. 81H-1. Addition to lying about Production Company is hiding the fact that production from this well has been decreased more than 14 percent in May and has been decreased more than 40 percent in June.
Field Name……………………………January…February…March..April May June
BAKER CREEK………………….. 1800 1360 1493 1227 1212 1156
BEECH GROVE PLANTATION ...........230 214 178 74 0 4311
CHIPOLA, NORTH…………… 1837 1769 3256 4164 4571 4450
FLUKER………………………….. 609 539 585 527 578 461
KENTWOOD……………………. 4920 3446 2853 2172 2471 2034
LIVERPOOL, NORTHWEST .........2239 2680 1956 2303 1926 1716
RICHLAND PLANTATION… .........1373 2169 1577 1403 953 1293
LITTLE SILVER CREEK……………… 0............0..............0 23811 20305 14176
Here is Company release “The Company's previously announced Beech Grove 94H-1 (67% WI) well in East Feliciana Parish, Louisiana, which had a reported initial rate of 740 Boe/day, achieved a 30-day average production rate of approximately 600 Boe/day (90% oil). The Beech Grove continues to perform very well and has thus far exhibited a flatter decline curve profile. The well is currently producing approximately 550 Boe/day and is currently on the Company's 600 MBoe type curve.”
However Official State of Louisiana Monthly Real time data indicates the following:
Field Name……………………….January……February….March……April …May….June
BEECH GROVE PLANTATION …230…………..214………..178 ……..74…….0……..4311
And the average daily production is 143 bbl/day instead of 750 bbl/day as company indicated.
This results indicates, company is trying to hide the fact and obviously management is misleading the investors about actual production rate of Beech Grove 94H-1 WELL
On their Release Goodrich indicates that “Production totaled 6.2 billion cubic feet equivalent ("Bcfe") in the quarter, or an average of 68,600 Mcfe/day.”
However the same Companies Q1 2014 release indicates that “Production totaled 6.5 billion cubic feet equivalent ("Bcfe") in the quarter, or an average of 72,000 Mcfe per day”
The comparison of these two release clearly shows that Company is hiding the fact that production has been decreased at the second Q to 6.2 BCFT from 6.5 BCFT at the first Q.
From this results it is obvious company is trying to hide the fact that after spend over 106 Million dollars at the second Q production decreased, it is obvious management is trying to mislead investors about the decrease of the production rate
I believe Company management is part of this Pump and Dump Play. Therefore I would like to strongly suggest small investors that be Very Careful, your money can wiped out in a second. I analyzed all the data using official Louisiana Oil Gas information, Just Google Louisiana SONRIS than go to Data Access and do your search before losing all your money on this company stock. I believe some investors are going to sue this company for twisting the facts and misleading the investors.BTW: I do not have neither short nor long position on this company stock
As I indicated at my 3 recent post unfortunately I believe Company management is part of this Pump and Dump Play. Therefore I would like to strongly suggest small investors that be Very Careful, your money can wiped out in a second. I analyzed all the data using official Louisiana Oil Gas information, Just Google Louisiana SONRIS than go to Data Access and do your search before losing all your money on this company stock. I believe some investors are going to sue this company for twisting the facts and misleading the investors.
Note: I do not have neither short nor long position on this company stock.
Something is seriously wrong with this company . They spend over 106 million dollars at the second quarter however they only produced 6.2 billion cubic feet, compare to 6.5 billion cubic feet at the First quarter. or in terms of daily production, Their daily production is 68,600 Mcfe/day at the second quarter compare to 72,000 Mcfe per day at the first quarter. This is a HUGE Production Decrease after spend over 106 million dollars.
Here is the total production information for the 1st Quarter of 2014
Production totaled 6.5 billion cubic feet equivalent ("Bcfe") in the quarter, or an average of 72,000 Mcfe per day
and Here is the Total production information of the 2nd Quarter 2014
Production totaled 6.2 billion cubic feet equivalent ("Bcfe") in the quarter, or an average of 68,600 Mcfe/day,
Interest expenses is $11.8 million in the quarter . TMS results are terrible and all the wells are under water. I think this company is going to file chapter 11 before end of the year.
• Revenues totaled $53.3 million in the quarter versus $48.5 million in the prior year period. Average realized price per unit was $8.53 per Mcfe in the quarter versus $7.22 per Mcfe in the prior year period;
• Earnings before interest, taxes, DD&A, non-cash general and administrative expenses and exploration ("Adjusted EBITDAX") totaled $31.5 million for the quarter and $60.5 million for the six month period ended June 30, compared to $31.5 million in the prior year quarter and $58.6 million in the prior year six month period;
. The Company announced a net loss applicable to common stock of $32.5 million in the quarter, or ($0.73) per basic share, versus a net loss applicable to common stock of $20.1 million, or ($0.55) per basic share in the prior year period. Adjusted net loss applicable to common stock was $21.3 million for the quarter, or ($0.48)per basic share, which excludes the impact of unrealized losses on derivatives not designated as hedges of $6.7 million, non-cash leasehold expiration of $1.1 million, and non-recurring other expenses of $3.4 million.