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Penn West Petroleum Ltd. Message Board

msears99 175 posts  |  Last Activity: 15 hours ago Member since: Mar 20, 2011
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  • Reply to

    Re-Statements are out............

    by msears99 17 hours ago
    msears99 msears99 15 hours ago Flag

    Mckay kept his word....said re-statements would not have a negative impact.... well done sir.

  • Reply to

    Market seems undecided

    by rmnew2fl 16 hours ago
    msears99 msears99 16 hours ago Flag

    Klapco will eventually leak something one way or another...Montclair is basicly sitting in weeds for now... They have a plan to attack the proxy if it goes out... or send out an offer of there own. Tthese guys dont go to all that effort with-out a plan B

  • Reply to

    Re-Statements are out............

    by msears99 17 hours ago
    msears99 msears99 16 hours ago Flag

    Total increase close to 29 million in shareholder equity ? can this be right.

  • Reply to

    Re-Statements are out............

    by msears99 17 hours ago
    msears99 msears99 17 hours ago Flag

    The net effects of correcting errors during the restatement process compared to the previously published financial statements are as follows:

    Increases to shareholders’ equity of $6.7 million and $8.1 million at December 31, 2012 and 2011, respectively.
    A decrease to net income of $1.4 million (approximately $0.04 per share) for the year ended December 31, 2012 and an increase to net income of $6.6 million (approximately $0.14 per share) for the year ended December 31, 2011.
    An increase to shareholders’ equity of $6.9 million at March 31, 2013.
    An increase to net income of $205,000 (less than $0.01 per share) and $103,000 (less than $0.01 per share) for the three months ended March 31, 2013 and 2012, respectively.
    An increase to shareholders’ equity of $7.0 million at June 30, 2013.
    A decrease to net income of $27,000 (less than $0.01 per share) and an increase to net income of $178,000 (less than $0.01 per share) for the three and six months ended June 30, 2013, respectively.
    Increases to net income of $272,000 (less than $0.01 per share) and $375,000 (less than $0.01 per share) for the three month and six months ended June 30, 2012, respectively.

  • Positives across the board on increase in shareholder equity.... Looks Very good.

  • Reply to

    New Opposition from Montclair

    by thunderchckn Apr 11, 2014 11:29 AM
    msears99 msears99 Apr 14, 2014 12:53 PM Flag

    The board really cant comment on anything right now..They have a friendly agreement in place with Petroflow..and a proposal from Montclair carries no wait..unless they come up with a superior bid....

    What is does do..it put alot of pressure on klapco to close the deal or step aside...and that in itself is good enough for me at the moment.

  • Reply to

    Lots of value in Equal energy to un lock.

    by msears99 Apr 12, 2014 10:47 PM
    msears99 msears99 Apr 14, 2014 10:20 AM Flag

    Montclair does'nt look like there going away anytime soon.... If anyone looks like they want to partner on the upside from $6-11 its them.... We could be on our way to a new LP deal.

  • FOR IMMEDIATE RELEASE: Friday, April 11, 2014
    Contact: Biba Aidoo, (410) 267-0504 or baidoo@nic.org

    Seniors Housing Posts Slight Gain in Occupancy in 1st Quarter While Rent Growth Remains Stable and Construction Pace Slows

    NIC MAP® Data Shows Annual Inventory Growth Still Tempered

    ANNAPOLIS, Md. – Overall, the average occupancy rate for seniors housing properties in the first quarter of 2014 was 89.8%, an increase of 0.1 percentage points from the prior quarter and a 0.8 percentage point increase from a year earlier. As of the first quarter of 2014, occupancy was 2.9 percentage points above its cyclical low of 86.9% during the first quarter of 2010.

    The occupancy rate for independent living properties and assisted living properties averaged 90.2% and 89.1%, respectively, during the first quarter of 2014. When compared to the prior quarter, independent living occupancy increased by 0.2 percentage points, while assisted living occupancy decreased by 0.1 percentage points. The occupancy rate for independent living is now 3.4 percentage points above its cyclical low, while the occupancy of assisted living is 2.4 percentage points above its respective cyclical low.

    During the first quarter of 2014, the rate of seniors housing’s annual asking rent growth was unchanged at 1.6%, and was 0.7 percentage points below its pace one year earlier during the first quarter of 2013.

    “At 2.1%, annual asking rent growth for assisted living was stronger than for independent living at 1.4%,” says Beth Mace, NIC’s chief economist. She noted that ”rent growth for both sectors exceeded the estimated increase in costs for wages and food, two significant contributors to expense growth for the seniors housing sector.”

    Seniors housing annual absorption was 2.2% as of the first quarter of 2014, compared to 2.2% during the fourth quarter of 2013 and 2.1% during the first quarter of 2013.

    In the first quarter of 2014, the seniors housing annual inventory growth rate was 1.4%, which is near where it has oscillated since the fourth quarter of 2011. Current construction as a share of existing inventory for seniors housing was 3.1%, which is 0.1 percentage points below that of the previous quarter.

    “The recent moderating pace of seniors housing’s overall current construction levels is primarily the result of moderating construction starts in assisted living properties,” says Chuck Harry, NIC’s managing director and director of research and analytics. “In fact, 2014’s first quarter recorded the lowest number of units starting construction within assisted living properties of any quarter during the past four-and-a-half years. Weather may have been a contributing factor, however.”

    The nursing care occupancy rate was 88.4% in the first quarter of 2014, an increase of 0.4 percentage points from the fourth quarter of 2013.

    Nursing care annual inventory growth was -0.1% in the first quarter of 2014, continuing the established trend of slightly declining inventory growth. Nursing care annual absorption was 0.3% in the first quarter of 2014, which was the first positive gain in nursing care absorption since NIC MAP initiated coverage in the fourth quarter of 2005. Private pay rents for the sector grew 2.8% year-over-year this quarter, which is 0.1 percentage points below the pace of the prior quarter.

    About NIC
    The National Investment Center for the Seniors Housing & Care Industry (NIC) is a 501(c)(3) organization whose mission is to facilitate informed investment in the industry. NIC's NIC MAP® Data and Analysis Service tracks more than 12,600 properties on a quarterly basis in the 100 largest metropolitan markets. Proceeds from NIC’s national conference and other events are used to fund data and research on issues of importance to lenders, investors, providers, developers, and others interested in meeting the housing and care needs of America's seniors. For more information, visit www.NIC.org or call (410) 267-0504.

    Seniors Housing Posts Slight Gain in Occupancy in 1st Quarter While Rent Growth Remains Stable and Construction Pace Slows

    # # #

  • msears99 msears99 Apr 12, 2014 11:06 PM Flag

    Senior Living Acquisition Prices Neared Record Highs in 2013

    Senior living acquisition prices are nearly back to their pre-recession peaks across property types, with skilled nursing seeing the highest per unit prices paid in 2013—up 21% year over year—according to an annual tally published by Irving Levin Associates.

    In its 19th year of publication, The 2014 Senior Care Acquisition Report notes that the average price paid for skilled nursing facilities rose to a record high $73,300 per bed in 2013, a 21% increase compared to the prior year’s average price. 

    Additionally, the average SNF price per bed paid in 2013 was 17.3% higher than its previous record, which was set in 2010 when the average pricer per bed was  $62,500.

    “While we were surprised by the significant jump in the average skilled nursing facility price per bed, we had been seeing all year a higher number of skilled nursing facilities on the market that catered to a much higher acuity mix, or were in markets that had the potential for higher acuity, and that is what the buyers want,” said the report’s editor, Stephen Monroe, in a statement. 

    While average price for SNFs showed considerable growth, average cap rates for these facilities stayed within historical norms at 13%.

    The private pay sector—including independent living, assisted living and memory care communities—also reported substantial average price growth. 

    For this sector, the average price paid was $164,000 per unit last year, just below the record set in 2007 at $164,500 per unit. 

    “Demand was so great in this market that for many of the transactions, there were as many as a dozen bids made,” stated Monroe. “It was truly a seller’s market.”

    When breaking down components of the private pay sector, there were discrepancies between average prices per unit growth when looking at communities containing mixes of independent living and assisted living. 

    Communities that are mostly independent living set a record price of $191,950 per unit in 2013, which was 38% higher than the average price per unit in 2012. 

    In the assisted living market, however, the average price per unit declined 4.5% in 2013 to $150,600. The drag on price growth, Monroe suggests, could be attributed to smaller and older players within the market. 

    “Demand remained strong for assisted living and memory care communities, but in 2013 various small and older communities were in the market that nudged the average price down,” he stated. “There were plenty of sales above $200,000 per unit.”

    The senior housing M&A market also indicated strong growth in 2013 compared to the previous year, as the number of publicly announced transactions increased by 20% to 225 individual senior housing and care mergers or acquisitions. 

    Looking ahead, the report suggests that future M&A activity will continue to grow.

    “The market was liquid with the most buyers since the last market peak in 2007, accompanied by a major increase in transactions by the non-traded healthcare REITs,” stated Monroe.

  • The Montclair presentation is very good.... Down load it from the Sec filing

  • msears99 msears99 Apr 12, 2014 12:08 PM Flag

    At this point ..FVE will probably be privatized like sunrise management was from HCN.....

    Portney and SNH can't risk leaving Fve assets sitting in the wind any longer....

    look for a deal in the 350 / 375 million range.

  • Reply to

    Montclair continues to stalk Equal ........

    by msears99 Apr 12, 2014 10:55 AM
    msears99 msears99 Apr 12, 2014 11:41 AM Flag

    let's say the deal of $5.43 goes to Dutch auction....Monclair would hold there shares and participate in all the possible up side ... from $7 through $13

    Give Montclair the right to buy as much as they want in the Dutch auction at $5.43

    those who want to more simply have to stick around.....Basicly Klapco would then take his marching orders from Montclair ... But Klapco does have 500k share plus options... could be worth a look to him.

  • Reply to

    We must finish ~ off portney for good.......

    by msears99 Mar 14, 2014 8:55 PM
    msears99 msears99 Apr 12, 2014 11:21 AM Flag

    Sam Zell and Corvex will turn there focus on unlocking SIR next....Maybe merge the two under one internal management.... I like there focus so far. Portney better start treating shareholders with more respect and focus on driving Value for shareholders..and a peer Multipul would protect him a lot more... the vultures are circling now.

  • That's the best news of the day....Soon these guys will move on the board if the Petro Deal falls .... The pressure is back on Klapco now.....

  • Reply to

    Dutch Auction at $6.00

    by msears99 Apr 11, 2014 12:44 PM
    msears99 msears99 Apr 11, 2014 12:58 PM Flag

    Its time to oust the board and let montclair take the helm.

  • Looks like monclair is ready to take control....Looks like they never sold a share

  • Shareholders will be ready for him.
    It was usually mid-may?

  • msears99 msears99 Apr 9, 2014 12:55 PM Flag

    It certainly looks like they wants the books cleaned beffore the sale gets announced...... We could be worth more than just the assets once everything comes to the surface

    "The errors primarily relate to the Company’s accounting for income taxes in prior periods, including the measurement of certain of the Company’s deferred tax assets and liabilities. " The Sec Filing

  • Reply to

    IS SNH set to Buy Back FVE........

    by msears99 Apr 4, 2014 1:49 PM
    msears99 msears99 Apr 9, 2014 10:04 AM Flag

    I'd say corvex ousting portney from CWH is a game changer... and the new soon to be elected board will begin to unlock alot alot of value for shareholders. We now know all of portneys firewalls are basicly useless with the arbitration board setting presidence of voters right to be heard via proxy... SNH,FVE are both great targets in the senior housing sector... both have alot of upside... hedge funds/ private equity will make a lot of money on there next move in this sector.

  • msears99 msears99 Apr 7, 2014 12:56 PM Flag

    Can klapco save the deal before the AGM?

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