Melissa Francis (now over at FOX Business) was the former oil reporter and she DID know her stuff. No wonder she left CNBC!
I put my common sense arithmetic up against your envelope math any day. They had 900mil. By 2015 they would have had around 500mil, except they wasted 200m of that on stock buyback. So they'll have about 300mil, unless the feds make them start paying into a escrow for oxy penalties - retroactive of course. If that happens, they still have hedges they could sell for say 200m. That leaves maybe 300mil cash by 3q 2015. Add-the swd and they have 450mil. If oil and ng are still at today's prices, They still have the revolver, but the available line may be lower by then. So they might survive until 2016. By then, if prices still haven't recovered, sd is toast
*Care to adjust your arithmetic?
At this level, you don't need any shorts ... just people realizing that SD is not going bk, any time soon! Haven't been in for quite awhile ... but at $1.50, it's a pretty good bet!! Hedges in place. This ain't their first rodeo!! In fact, I think I bought this at about this level in 2009 when the world was collapsing, too!
Thanks for the laugh!! Worst offering? We've doubled in the past month and they were able to do a secondary on TOP of that? Dream on ...
Gee, maybe now John can go to the CNAT board and whine!!
Well, I have to go out for the day ... hold down the fort, kids! Volume kicking in and virtually no profit-taking from recent buyers, yet? Ssssshhhhh ...
I would think so ... "hard to borrow" ... how the heck have they borrowed as many short shares as they have? Oh wait ... can you say FTD?
Last time I checked, this isn't the CNAT board ... or are you simply trying to distract now that your constant complaining has garnered enough attention?
Agreed, but only positive pr(s)/results will eventually trump that, I'm afraid! The other route is very costly!