I like to get reamed on my stock calls. I like to short stocks before they rise 50% the next day.
Rockpile has a backlog of 34 wells with 27 being 3rd party. So much for no demand.
A commodity price never to be seen again by anyone in this lifetime.
Really??? Looks like this clown show has 2 acts!!!
Suadis dont give a rip about small E & P's like Triangle u clown. Yeah and good luck on the price staying below 90 a barrel for 12 months.
NO they did not seek offers from buyers you nut. They didn't even get to that stage. They retained advisors that said hey you probably don't want to do a sale right now mainly because of tax purposes and your high growth rate. They didn't know if they even wanted to sell, they also thought about spin offs and such. GO LISTEN to the last conference call.
I see in two years....
Mr. Banker: hows that Evan's loan doing?
Assisstant: Great sir we have collected 2 years worth of interest since issuing it.
Mr. Banker: So we've made money on this loan?
Assisstant: Not exactly since we shorted the stock at 4.50 "to eliminate risk" we are now underwater 2x at the 12.00 buyout price.
Mr. Banker: Arggg, that Evans will get you everytime.
We understand the last 3 years has been a rough patch for the FLY shareholder as our shares have appreciated a whooping 0%. Now before you go celebrating at your local watering hole for "hanging in there" with us over that time let us remind you that we are growing not in share price, silly you, but in planes. We realize other lessors consider share price growth a good thing (AYR up 83%, AER up 298%, and AL up 66% in the last 3 years) but we here at FLY leasing couldn't care less about that. In fact we understand the shareholder just wants to be assured the number of planes in the fleet keep growing at 15% , 20% or heck even 100% (if we could we would) per annum (thats means year for you yankees across the pond).
Now do we have a plan to change this dismal price action? Of course, we could buy back these shares from the market at a 30% discount to book basically assuring the shareholder an accretive purchase. But no we here at BBAM want to make sure we can squeeze every oz of a mid teen return by pruchasing more and more planes so we can line our own pockets more and who really wants 40-50% returns from buying stock anyway? BORING! Conflict of interest you say? I just say GROWTH GROWTH GROWTH to that!!! (Its gonna work, eventually I just know it!!!)
Now will these purchases mean more divies for our shareholders? Probably not, even after we have doubled cash flows over the last 4 years most of this extra cash is gonna go where it belongs, management's pockets. This aint no charity yo! Brother got to get paid!!!
Also we here at BBAM want you the shareholder to know that you exist because we let you. We let us grace your presence every 90 days with a "we know better than you" conference call just to let you know where you stand with us, and that is nowhere. And that is exactly where we like you: tied up in the middle of the Sahara Desert with no water.
Colm and Co.
Mastermind is right on. There is no great demand for this stock because the market hates the external management team. Colm and company would care less about where the stock trades as long as they keep growing and growing "for growth's sake" of course. You don't hear Colm quibble anymore about discount to book anymore do you? NOPE. 'Cause he dont care. Did you hear these guys' attitude when asked questions about a share buyback that they never use? Or if they want to increase the divy? All you hear PURE SPITE for questioning their judgement: "We think a 8% yeild is good enough." and "they [the shareholders] can buy back their own damn stock if they want with this great divy we give out." This management team needs to be put in their place and this management contract can't expire soon enough. Too much value here for me to move on sub 20 though.