Western Refining, Inc. Message Board

If you're buying all you can for under $2.50 - you'd own at least 50% of the company by now and be setting the market price 100%. Tone down the hyperbole and people might begin to believe what you have to say.

Recent (over the last 18 months) sales of oil companies have ranged from $108,000 to $142,000 per barrel of flowing oil. The Bakken is prime country! The price he got was at the low end of the range and as an owner of the company I'm disappointed in the price he got. It wasn't ridiculously low but he should have held out for abut 15% more. They bought it because it was a good deal for them. Watson was desperate for the cash and they knew it.

Chimakot, I feel pretty much the same as you do about BW. Remember that if he were to leave abruptly, the disruption would be detrimental the bottom line for at least 6 months, maybe more. An orderly "reassignment of duties" from the Board would be the correct way to go about it to insure continuity. Keep writing - but if you can find the time, old-fashioned paper letters to members of the board appealing to their sense of duty TO THE SHAREHOLDERS, not BW, would probably be helpful. Best regards, GMM in Denver

ROYL now at $2.60/share - not such a great move, but then again, AXAS is down to 2.24, so instead of losing money on AXAS, you're losing money ofn ROYL - and apparently even more yhan you would have on AXAS...

I read an article on Seeking Alpha that examined value of small producers and the author concluded that they were only being valued on oil production on a straght forward multiple of between $US 110,000 and $150,000 per BBl/day of current production. Thier current daily production at 5700 bbl/day times $116,000 is pretty close to the sale price. So it looks like the buyer completely discounted the value of the land. Overall, if the Bakken land is worth a hoot (probably is) they got a screaming good deal!!!!! Not so good for the owners of AXAS stock. If you apply the same metrics to AXAS, you'll find that the stock price ought to be about $6-$7/share.

The good news is that the shorters are going to lose thier #$%$ if we see a consolidation wave start, which I think is possible while the current price of oil is "realtively" low.

Looks like a shorter trying to cover his Arss!

Why do you think they are selling if the price is about to hit $5.00?

Yahoo is just plain slow.... I've caught them on so many errors that I gave up on relying on their data long ago. Check the order book. I've seen my own orders not show up.

More stupid selling today I guess? Or could it be sutpid owning?

I've read a lot of crazy stuff but what I see on this message board really takes the cake. I started talking a year ago about the fact that the management of this company WILL NOT transfer the wealth that they make to the shareholders. They stuff it in their pockets and laugh all the way to the bank leaving the shareholders a bunch of paper that trades on rumor and inuendo.

I will state it again here as clearly as I can: "THE STOCK OF THIS COMPANY WILL LANGUISH UNTIL THE MANAGEMENT DECLARES A DIVIDEND OR STARTS TO BUY THE STOCK BACK". Until this happens you guys will have nothing but lines on your trading accounts that state that you owns shares in something called Timmins. I'd rather have CASH in the bank. If you don't like the share price, start seriously harrassing the management about the fact that they WILL NOT TRANSFER THE COMPANY'S WEALTH TO THE OWNERS!!!!!!!!!!!!!!!!!!!!!!!!!

Not so fast, he was talking about the market as a whole. Not microcaps with idiot CEOs.

Thanks - I get it now. Buying a call is buying an option to buy at a set price. Makes perfect sense as a "Hedge" to cover the shorter's behind if the price goes up - a likely scenario in light of what's happening with AXAS lately. It's an indication that shorters indeed see a squeeze coming.

Sorry for my ignorance, could you explain what exactly that means? Is each call for a specific lot size? Price?

Thank you for your patience...