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Equal Energy Ltd. Message Board

igottaken 10 posts  |  Last Activity: Nov 26, 2014 7:06 PM Member since: Dec 20, 2004
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  • igottaken igottaken Nov 26, 2014 7:06 PM Flag

    Looks like new transcripts posted from 11//20/2014.
    Wonder how mediation is going (or maybe postponed because of this latest court filing).
    I cant tell if it is good or bad for PW after reading the new transcripts.

  • Reply to

    stock buyback is starting

    by igottaken Nov 20, 2014 5:53 PM
    igottaken igottaken Nov 26, 2014 11:53 AM Flag

    5 days in a row of buying convertible bonds, but no common stock. At current stock price, buying back stock is more valuable to common shareholders than buying convertible.

    Maybe thought process is to reduce interest costs enough where the dividends from Breitburn stock will cover both the interest and the overhead of running the company. Then they have time to sit on land if a sale does not occur.

  • any ideas when this might get called?
    it is currently callable.

  • bought back 80,618 shares on 11/14 and 5,919,382 shares on 11/17. Wonder if that big block was remaining shares from Lone Star???

    Also buying back convertible bonds. Too bad they cant sell Breitburn shares and use proceeds to buy back convertible bonds (good for common shareholders).
    The more shares they buy, the better off common shareholders are.

  • Reply to

    Antares land is worth a lot

    by jtbc5000 Sep 2, 2014 7:22 PM
    igottaken igottaken Nov 18, 2014 3:18 PM Flag

    it is only worth wh#$%$t others #$%$re willing to p#$%$y, not wh#$%$t you think it is worth.
    Looks to be 4-6 interested p#$%$rties in rem#$%$ining l#$%$nd.
    It will be interesting to see wh#$%$t type of offers come in (c#$%$sh, #$%$nother comp#$%$nies stock, buyout of entire rem#$%$ining comp#$%$ny, etc#$%$ #$%$nd then how the Bo#$%$rd re#$%$cts to those offers.

  • igottaken igottaken Oct 28, 2014 1:02 PM Flag

    Another problem is that nobody is around anymore that originally signed the agreement so who knows what the real intent of the agreement was. I think it is time to start the guessing game as to what the settlement agreement is. Here are my two guesses:
    a) NFS will end up paying the back interest to PW and will also double the yearly rental payment to PW.
    b) NFS will just end up buying back the railroad to get rid of the "problem" and PW will then have the capital to proceed with new business strategy.

  • igottaken by igottaken Oct 2, 2014 7:50 PM Flag

    just as many shares traded today in Lakeland as with Starbucks.

  • igottaken by igottaken Sep 26, 2014 4:39 PM Flag

    Did a search and it seems that it costs about $1 million mile to build a railroad (not counting the land).
    That puts the railroad replacement cost at $100 million.
    Divide that by the 1.7 million shares = $58 per share.
    Probably not an accurate way to do it, but why not dream.

  • Reply to

    Lawsuit Settlement Possible??

    by bottomfisher2012 Sep 26, 2014 11:20 AM
    igottaken igottaken Sep 26, 2014 4:26 PM Flag

    if you dig through the court documents you can find oil/gas leases that PW did not know about, there was a lease to Bell Atlantic to lay fiber optic cable, etc. $ are not large, but $ should have gone to PW instead of to Norfolk Southern.
    PW is saying that lease is broken because of this and they should get paid "contingent interest" plus renegotiate the yearly lease amount. That $900K yearly lease could be quite a bit higher at fair market value.

    Norfolk is saying that contingent interest is due when lease ends (but lease never ends with automatic extensions). Plus the lease allows them to sell oil/gas rights, etc. and keep the money from it.
    Norfolk talks about intent when the agreement was written. Problem is that nobody is alive that was part of that agreement so the judge said "the lease is what is written on paper".

    it will be interesting to see how this turns out

  • Reply to

    Lawsuit Settlement Possible??

    by bottomfisher2012 Sep 26, 2014 11:20 AM
    igottaken igottaken Sep 26, 2014 11:37 AM Flag

    3 days of heavy volume for this stock and it is now $11+.
    Somebody has to know something. Why would this volume just show up?
    Simplest thing would be for Norfolk Southern to just buy the railroad and then Power REIT can go on with its "green" focus.

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