This is nothing at all. When relational bought shares from MHR, they were not registered and MHR in the sale agreement had 90 days (I think that was the time frame) to register them. There have been several SEC documents in the past month or so about this registration. It has nothing to do with relational selling them. It is just required governmental paperwork.
the street had them at a d+ rating before today and nobody cares what the street says. They have no clients like a Goldman or Merrill. There was profit taking and some sellers. Volume was huge yesterday and we still ended with a good gain. We should be approaching some big announcements (come on Garry you promised) and the stock was way over sold.
Their earnings could not have disappointed as they beat the street estimates by 8 cents. Roughly 1/2 of expected loss. Let's see what comes of the liquidity events that GE promised. They sounded big and soon. If they come to pass we are in quite a different position.
Let's see if he can deliver here. I am betting he can.
We reiterated, again today, our exit rate of 32,500 barrels a day. We think built in lots cushion this year and we're prepared to meet that goal, a lot of us sitting around this table and in this company our bonuses are dependent upon it.
Well, if you were to take now until the end of the year, I think you'll see a drop in leverage based on liquidity events we're working on. The acquisitions of additional leases probably won't be more than another 50 million, and the divestitures and the other liquidity events that we're working on are much greater than that.
We had actually had a board meeting here in Houston yesterday right after our annual shareholder meeting. And we have 3 significant liquidity events we're working on and none of which include capital market transactions. So we recognize the need for additional liquidity. We have things that the board has approved yesterday that we hopefully will announce in the near future once we get the definitive agreements. And so we've -- and these events are significant. So we believe that we've got all that handled for the remainder of the year and as you watch the news flow over the next 30 days, you'll see those events. So hopefully, that answers your question.
No. I feel much better about NG than crude and I would sure like MHR to sell the Bakken before crude falls apart. I see 80-85 within a year. NG, depending on the winter, I think will be between 3.50 and 4.50
I disagree. I believe we will be exporting significant amount of Natural Gas in the next 5 years and that will bring NG prices closer to world prices that are much higher than here. If MHR can deliver on its production and pipeline volumes it has huge upside here. At these levels, there is about $1 of downside and 5-10 of upside. I like that ratio.
The biggest difference between you and I is how we actually think this will turn out. I believe GE will pull through and make this a very profitable investment for those who buy now or those who bought at 8. I have been buying on the way down and feel this earning report is probably a bottom for the stock. (Assuming Oil and NG and the market hold together). I do think that we will hit the exit rate GE touts by February, close enough for me. This big increase in production not only helps cash flow, but proves up a lot of their land.