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GMX Resources, Inc. 9.25% Seri Message Board

joeevani 518 posts  |  Last Activity: Jul 15, 2015 12:25 PM Member since: Oct 22, 2004
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  • joeevani by joeevani Oct 22, 2004 4:18 PM Flag

    Published: 10:01 22.10.2004 GMT+2 /HUGIN /Source: Frontline Ltd /OSE: FRO /ISIN: BMG3682E1277

    FRO - Sale of Vessel


    Frontline and Euronav have agreed to sell the joint owned single hull VLCC Golden Fountain. The vessel is sold to Chinese interests, and will be delivered to the new owner in the period December 15-30. The vessel is expected to complete one more voyage before delivery to the new owner.

    The sale was decided with special emphasis on the limited trading period left until IMO's single hull ban comes into effect in 2010.

    The sale will be recorded in Frontline's fourth quarter results. In addition to the vessel's earnings in the quarter, there will be an accounting gain to Frontline of approximately USD 15.8 million and a release of cash of approximately USD 27 million to Frontline. The liquidity generated from the transaction is likely to lead to an increased dividend payment to shareholders.

    Hamilton, Bermuda
    22 October 2004


    Contact: Tom Jebsen, Chief Financial Officer, Frontline Management AS
    +47 23 11 40 21

  • Reply to

    PERHAPS, OF INTEREST

    by donutcar Nov 16, 2004 12:57 PM
    joeevani joeevani Nov 16, 2004 1:12 PM Flag

    NEW YORK, Oct 28 (Reuters) - Real Estate owner Cousins Properties Inc. (CUZ.N: Quote, Profile, Research) on Thursday said its board approved a special cash dividend of $356 million, or $7.15 per share, to distribute taxable gains made from the sale of property.

    **The dividend is payable Nov. 18 to common shareholders of record on Nov. 8.

  • Reply to

    PERHAPS, OF INTEREST

    by donutcar Nov 16, 2004 12:57 PM
    joeevani joeevani Nov 16, 2004 1:58 PM Flag

    A New York Stock Exchange ("NYSE") policy regarding the deferral of ex-dividend dates for large special dividends applies to the Company's special cash dividend. Specifically, the NYSE has set November 19, 2004, as the ex-dividend date for the special dividend. As a result, ** a shareholder of record as of the November 8, 2004, record date ** who sells the Company's stock after that record date but on or before the November 18, 2004, payment date, will not be entitled to receive the dividend payment as the value of the dividend remains reflected in the market price of the stock until November 19, 2004. Investors are encouraged to consult with their financial advisors regarding the specific implications of the deferral of the ex-dividend date.

  • Reply to

    PERHAPS, OF INTEREST

    by donutcar Nov 16, 2004 12:57 PM
    joeevani joeevani Nov 16, 2004 2:10 PM Flag

    Got it...thank you.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 10:26 AM Flag

    "As I have stated, I am 87% in muni bonds, and I have only one stock which makes up the other 13% of my portfolio. That stock is FRO....(given my objectives, financial situation, time horizon, risk tolerance, etc)."

    My particulars (e.g., objectives, financial situation, etc.) are probably different than yours, but I've been thinking about investing in some munis. Have you found them to be relatively safe investments? Is there a downside to starting with small sums (e.g., $10K)? Thanks.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 12:02 PM Flag

    Thank you for your generous response. Much of what you offer is in keeping with information I've considered. Given your cautionary note about sizeable denominations, it sounds as though I should hold off for another ten years, and then adjust my portfolio. Again, I appreciate your thoughtful message.
    JE

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 12:05 PM Flag

    It sounds as though you are further along in your investment strategy than I am at this point. Thanks for the message.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 2:37 PM Flag

    I appreciate your additional input, boonedoggle73. I'm about fifteen years from retirement, but my portfolio doesn't include any bonds. I have some cash in I Bonds (treasury), and some investments in limited partnerships that are doing well. But it sounds as though a small investment in a muni wouldn't be very beneficial at this point.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 6:23 PM Flag

    Yes, your point about the relative risks of limited partnerships is well taken. And this is why I'm considering some munis now. But with rates at or near historic lows, does it make sense to lock into shorter term munis?

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 6:31 PM Flag

    I appreciate your input, ourkidz papa. Muni CEF's might make a good interim investment.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 18, 2004 6:34 PM Flag

    For the record, I am a FRO investor, and ourkidz papa was kind enough to respond to some thoughts/questions that I (and other FRO investors) have about munis.

  • Reply to

    SUPERB !!!!

    by widgeon2000 Nov 17, 2004 4:11 PM
    joeevani joeevani Nov 19, 2004 5:55 PM Flag

    This is a fine idea. Thanks.

  • Reply to

    golden o spin off, news release

    by ratecutterusa Dec 1, 2004 6:26 PM
    joeevani joeevani Dec 2, 2004 4:56 PM Flag

    >> GO $$$ to US holders of FRO. <<

    Once they determine the cash amount of the div, and let the NYSE know. The NYSE will make the ex date the 8th. <<

    Please forgive the request for clarification, but will those of us (in the U.S.) who are adding FRO now qualify for the Golden Ocean cash dividend on a Dec. 8 ex date?

  • Reply to

    golden o spin off, news release

    by ratecutterusa Dec 1, 2004 6:26 PM
    joeevani joeevani Dec 3, 2004 12:23 PM Flag

    I was puzzled by the notion of a 12/8 ex date for the golden ocean spin off. Thanks for thinking through and presenting a likely scenario.

  • Reply to

    golden o spin off, news release

    by ratecutterusa Dec 1, 2004 6:26 PM
    joeevani joeevani Dec 3, 2004 1:31 PM Flag

    Yes, your current thinking seems to track the process involved in determining the amount that will be distributed to shareholders. Thanks for the follow-up.

  • Reply to

    golden o spin off, news release

    by ratecutterusa Dec 1, 2004 6:26 PM
    joeevani joeevani Dec 3, 2004 2:04 PM Flag

    That scenario makes sense. Thanks again.

  • joeevani by joeevani Dec 10, 2004 1:04 PM Flag

    JF's reticence during the news and speculation about matters such as FRO/GMR and the change in the $2.50 dividend payment date may not be a sign of imprudence.

    Patience and loyalty begin to have significance when tested.

  • Reply to

    Holding and Adding

    by linenfort Dec 10, 2004 12:24 PM
    joeevani joeevani Dec 10, 2004 1:46 PM Flag

    <Scottrade is very good but look at Brown and co also...they have by far the lowest margin rates ( obviously not a concern with an ira)>

    Do you feel that BrownCo offers as much or more service than Fidelity?

  • Reply to

    Thinking of buying FRO. Why should I

    by tartanlad68 Dec 30, 2004 8:38 AM
    joeevani joeevani Dec 30, 2004 11:06 AM Flag

    I was fortunate not to loose money in Fro, but I've been feeling that the sledding may be a bit tougher after the next quarter or so, and that there may be a good long-term entry point beyond that time. So, I've sold my Fro shares for now, and I too have been considering some other stocks to invest in.

    One stock I've purchased is Pebercan Inc. (PBRCF.PK (PBC.TO Toronto exchange). The stock has increased significantly in the past week or so largely due to the news of a new oil discovery in Cuba (see PBC.TO headlines Friday December 24).

    I've also invested in Grande Cache Coal (GCE.TO) and Pine Valley Coal (PVMCF.OB) because of the favorable rates projected for the next several quarters.

  • Reply to

    Thinking of buying FRO. Why should I

    by tartanlad68 Dec 30, 2004 8:38 AM
    joeevani joeevani Dec 30, 2004 11:22 AM Flag

    Bubba...FCL looks good from where I sit. The news about coking coal demand has been positive recently, and the coal companies should do well moving forward. Here's a clip from Bloomberg (11/23/04):

    World trade in coking coal is expected to rise 2 percent to 219.3 million tons in 2005, according to figures from the Australian government. BHP Billiton forecasts global trade in the fuel may rise 50 percent by 2010, and it has announced plans to almost double output at its coking coal operations to 100 million tons a year by that date.

    Best,
    Joe