Almost pulled the trigger yesterday to add to my BBEP position, first laid on at 5.17. Something told me i could add cheaper if I were not in such a rush. Turns out to have been good "internal" advice. But this is a stock with huge upside potential. Where is the "safest" current entrance point? Are we there yet? Any thoughts? I like it for current dividend yield and cap gain potential.
These wells were spudded almost one year ago. Shouldn't we have some definitive results by now? Our stock is in the thirties largely because IOC management is so slow in communicating vital information to its stockholders. If these two wells are successful in any kind of major way shouldn't we know about it so it can be factored into the stock price?
Right at this moment we are seeing BBEP bounce back. Always dangerous to become over confident,of course, but most energy stocks are recovering as well from early weakness. With its excellent distribution yield, BBEP is a stock in which one can afford to be patient. I bought in at 5.17, ten days or so ago, so I am quite pleased with performance so far. If anyone knows of stocks with equal yield and upside potential, I would sure be happy to take a look at them.
I hope these comments don't jinx the stock! I've seen it happen.
I say that it is way undervalued because the last time the gold price was around $1300, as it is now, JNUG sold for the equivalent of over $300 before the one for ten reverse split. That is about EIGHT TIMES what it sells for today. So either JNUG was grotesquely overvalued at that level or else it is grotesquely undervalued at today's $45 price.
And yet not very long ago they sent out a message to those already in the stock hat reflected doubt about Xoma. They were concerned about the Baker Bros. sales and the poor stock action. They warned that if the stock continued to act poorly they might exit it. Now they are fiercely touting it again and asking for money from those who don't already know that it is Xoma that they are talking about. I hope that the hype turns out to be correct this time around, but their about faces on it worry me.
I just listened to their latest hype on what is obviously XOMA. They claim massive insider buys, but all I can find are sales (from Baker Bros.) I kicked in $5900 to them and all I seem to get for that is 45 minute hype spiels ending up with requests for yet more money. I am down on all their recommendations that I have purchased so far, including XOMA. If this one also bombs then I am really through with them and will ask for money back. Has anyone here asked for that, and if so, do they actually give it back?
That's true for me. I gave up on most of my IOC position in the mid fifties. I still hold on to 25% of my original position, laid on in Oct. 2009. It is simply incredible that with all of the new gas discoveries etc. management has not been able to do anything to increase shareholder value in the way that most shareholders expect, i.e. to increase the pps. Just the opposite, in fact. Now IOC sells for less than half its price of 5 years ago. Just incredible! And all this after Hessions's hype in his CC in Nov. of 2013.
It has been ten months now since these two wells were spudded. Wouldn't you think that by that length of time IOC would be able to provide us with some definitive information concerning the status of the wells and just what has been discovered by way of gas and oil? Their next required communication with their stockholders is not until the last day of March, and they generally wait until that deadline to tell us anything. Foot dragging when it comes to solid information is one of the problems that IOC could easily overcome, but it never seems to register with management,
Edelson has a poor record on forecasting the POG recently. He got egg on his face when he went all out on the buy side last summer, then had to reverse and call for a drop in the POG. Now he is hedging his bets and calling for a big rise in the POG sometime this year. But the train could be leaving now, with the POG above $1230 today, instead of heading for $900.
Once again gold seems to be rearing its head, with a close above $1230 today. Jnug looks good until you allow for the 10 to one reverse split. On that basis it is only trading at $4 and change, versus a price in the high 30s when gold was around $1300. So what will it sell for if gold again reaches $1300? Probably no more than a fifth of what it previously was selling for at that same POG. Something doesn't add up!