Blank S-3 was filed on Friday, Sept 20. I'm a little surprised the company didn't make an announcement. We'll soon find out what they are planning. They should stop the dividend if they are going to claim they need additional capital.
I'm not so sure about that. Something is up. The price closed below book value today. The stock price has dropped more than 20% from the highs. It's as if there's bad news that hasn't come out yet, or investors don't believe the management team can deliver. I'll guess we'll find out soon enough.
Hate to disappoint you. It was me selling. I'm cutting my losses and moving on. The new presentation did it for me. I suggest you take a look. The 3D only spotted the one pool around Spring Hill, 1 or 2 sections in size. If you assume a moderate recovery based on the reserves in the press release and an average netback and then subtract Oxy's portion, there's not much upside especially when you consider they still have to operate the company and will continue to spend money on 3D and drilling.
Update as of 5/7. I became interested in the value of the lost dividends. $16.68 in HCI shares, plus $1, plus approximately $2.15 in dividends for a total value of $19.83.
$16.59 plus missed dividends at market close 5/6. The calculation is 0.5 shares of HCI, plus $1. Yes, you did get the wrong company. I did also.
Mike buys 15K shares yesterday and reported it the same day so he can release the press release today. I was wondering this morning when I check Canadian Insider why he did that. He never reported in the same day before. Think they found something?
Is it that Anschutz is leaving the Blackfoot reservation? (See FST.) Or that Mike bough another 10K shares yesterday? (See CI.) Or that it looks like the SAB hot spot on the Montana side might be south of PIE's acreage? (Also see FST.) Or that LGX found quite a few anomalies with their 3D seismic on the Blood Reservation on the Canadian side? (see press release on TMX.)
None of these tell you whether PIE is actually going to be able to produce economically viable oil before they run out of money. As each day goes by, I'm starting to have my doubts.
Update Mike bought another 22K shares between Monday and Tuesday. He filed it yesterday 3/15 after market. Something is up. Maybe that is why the TMX was showing increased volume this week.
Bruce is not a perfect indicator. He bought shares a few years ago right before they tanked the stock price and started piling up losses. I do have a correction to my previous post. I think Dimensional is your only 5% owner now. Lloyd Miller didn't file a 13G for FNHC. He did for his other holdings. Something to think about.
Dimensional Advisors and Lloyd Miller have been the only 5% holders for a few years now since Lawson got out. You'd better be more worried that Dimensional doesn't try to unload their position. The price will crash because there aren't enough buyers to pick up the slack.
They burned $6MM in cash on operating activities during Q4. Plus, just wait until the lawsuit bills start coming in. Still surprised they act like it's not there. It could be very material.
It's going to go down eventually. The question is how long will the pumpers try to keep this stock up. It could be painful to the shorts in the meantime.
It would be nice to have an investor get on the conference call and ask management why the lawsuit hasn't been disclosed.
Relook at PIE's updated info. Mike has now bought 79K shares. He purchased on Monday, Wednesday, and Thursday. Pine Tree/Sheldon only bought the 500K shares on Monday. Not sure what any of it means if anything.
The most interesting item in the article was the discussion about the Watson Flats well. That is the well that is closest to the recent land acquisitions from new outside groups that the ST reported a couple of weeks ago.
jkoons.rm won the 2012 TCHC stock price prediction with a guess of $3.85. Congratulations! All my other predictions were correct, but I whiffed on the stock price.
Might as well do it again for those of us who've been around here a while. Below is TCHC's closing price per share on the last trading day of the year over the past eight years. Information is all from Yahoo Finance.
12/30/05 – $17.11
12/29/06 – $23.75
12/31/07 – $13.44
12/31/08 – $4.63
12/31/09 – $4.02
12/31/10 - $3.18
12/30/11 - $2.96
12/31/12 - $5.35
12/31/12 - ?
Guess TCHC's closing price on 12/31/13. You can also throw in other predictions.