the lower it gets the more stock they can take with buybacks. the more they short the less dividend the company has to pay.
you dont give any dates here when these events occurred. lawler decided to move in a different direction than aubrey with respect to piling on debt so perhaps it was simply a case of one man not choosing to finish the work started by another.
maybe the weak market caused them to buy the permits and in the interim between buying and setting up to drill they saw it wasnt economically profitable so they didnt do it? dont know but that would be my guess right off the top.
it also occurs to me that it might just be a good idea to leave the dividend in place as the company only has to pay less than 75% of it with the shorts paying the rest.
being short isnt like being long. being long you can just do a warren buffet 60 year marriage to the stock and end up with the 8th largest holding company in the world if you pick em right. shorts have set their hair on fire and if they want to get out winners they need to know when its time to get off the bus unless the stock is fundamentally unsound and they have a strong belief that it will bust.
i think there is a chance,. they arent going to make money this quarter,...at these low prices i hope they cut the divy and use the extra 50 million to buy back some of those 662 million shares at these prices
a lot of the so called value aubrey created was an illusion that is in danger of being washed away by the high tide of volatile oil prices. aubrey expanded the borders out to the limits now if lawler doesnt build the fences around those borders i am afraid all the cows are going to escape....there is money owed the bondholders and they come first.
where i live ...which is oregon...there is not a single public filling station for cars that run on natural gas. the state of oregon had some they used as fleet vehicles but also set up their own system outside of the public to supply them with fuel and service them. i believe they still use them as i see an NG vehicle come up on the sales block now and again.
natural gas is selling at 2.75 here....7.40 in europe and 11,50 in asia. as i said shipping costs account for part of that gap but not all of it . so that leaves us with one of two conclusions: that either NG is overpriced in eurasia, underpriced here...or a bit of both. whichever the case may be the free market or perhaps even the black market will adjust accordingly.
you make a good point the problem is inertia. america has spent 13 trillion dollars over the last 100 years building up the oil based economy and where do you come up with the money to switch over....i think we are seeing a switch over to some extent...fedex is designing its fleet to run on natural gas but you are not going to see an overnight change. you will see a slow crawl in this direction at best i think.
in order to go private you need to buy out all the stockholders and pay off the debt....selling assets to pay off those 2 requirements is possible...borrowing more money ....as you suggest is not.
you are right. you are no accountant. if you want to know what book value is you could be smart and look it up or feel free to keep guessing/.
there was at least one if not several large shareholders who didnt like all the downgrades. obviously no one wants to buy into this stock when someone else is dumping it. i think if it does go up it will drift back up slowly before it makes any major upside advances because buyers will wait to see if whoever is dumping it is finished.
bought in might be a bit of an overstatement gw. they have a joint venture on some of CHKs oklahoma property to develop one of the leaseholds there. what the chinese interest in that deal is and what they get out of it i am uncertain...