It is cheaper for Cooperman to buy a 2 minute spot in the super bowl than appear 3 minutes on CNBC. These guys pay to promote stocks.
I hope PKD will not pay the final 24 mil since the milestones were not met. You buy a company for 124 mil and is not able to return 30 mil in sales. That is sickening.
The Wilmington properties will be forced to close down soon. It is becoming impossible to do business in this area. They need the jobs but #$%$ about odors.
SUNE at 7.50, GTAT at 8, SB at 7.50 and even DRYS $200 mil secondary?
Bribery is a 50-70 mil. penalty. It looks someone bribed individuals to obtain all those leases.
I do understand. If 6.25% equals to 8 barrels , then there are only 128 barrels of oil per sq. mile which is nothing for an oil rich area. Stock price speaks for itself.
If the numbers of these 16 wells remain the same for the rest of the year, the results are not that bad. They spent about $56 mil to produce at least 100.mil in oil sales per year plus some more in gas.
I'm long on this stock but I don't know why. Out of 1758 active wells the company receives 13900 bo per day? That is only 8 b.o./day. In fact is 7.90 barrels per day per well. The company needs to start taking higher risks and come up with some wells of their own where it can rip the full profits.
I'm going to be relieved when this quarter is over. The loss is going to be big again with all the charges . But hopefully, everything will start turning around. It is time for this company to start producing some results.
The reason TPG is not talking is because he is sitting on the board. Give it time. It will work. As long oil is staying at $100.00 energy is the best place to be. As for gas is a different story. It is the only cheap comfort poor people can have. It is regulated or manipulated by the government to keep poor warm. NG prices will remain at a level which will justify required levels of supply.
Will help or hurt SD this quarter. Some small oil companies get only $75.00 per barrel of oil. Now with the new oil spill in the Miss. river transportation cost will go even higher.