All is normal once again in the universe.
2 weeks ago we were 100% higher than PWE, now we are 20% less than them and we are the sug $1 stock. We have better financials & hedges but they kept most of their 3 bagger. That said, that's all about trust in management and believing them. PGH still lacks tthat.
Seeing Pwe go up over 130% in 4 days and oil almost hitting 50 yesterday, I thought when we had some positive news come out that we would do somewhat the same thing as PWE did as we are supposed to be hedged and in a better financial position than PWE. Shoot, I read more than once about PWE maybe bankrupt, yet they soar in a couple days, and PGH doesn't even have any debt due until 2017 if they don't want. PGH the Rodney Dangerfield of the Canadian oils. "I don't get no respect" :(
PWE literally doubled in just over 3 trading days. I guess I was hoping for a little more than 5% and barely over $1. Thought this was what they were looking for.
You know, can't believe that 75% in 3 days there won't be some gap filling?? I'll bet someone could make some money shorting PWE right now. Not me, I've not the guts for shorting, could go south with unlimited miles!
Don't know how you figure that, PWE show some management initiative and it got them a 40% increase in 2 days. And from what I understand they are in worse shape than PGH and also do not have hedges. the street wants to see or hear something from management as they have tooted their horn for 3 months about asset sales with no result. Don't get me wrong, I am very long PGH and want their efforts to show.
PWE up 32% today and 12% yesterday as their management has shown signs of interest in getting their debt in check. They are worse off than PGH and they do not have the hedges we do, but you can see investors want management action. I bet PGH lost a lot of their investors to PWE in the past couple days. (IMHO)
Rev splits are not a good idea. I have never seen one that worked out. Just gives more room to start shorting it down again.
Has to be that no one believes them anymore, they have been talking debt reduction with no movement. Hollow promise are the result we are seeing now. They even said Lindbergh break even at $30 bbl, but you have to have credibility for people to believe you. They may have it but no one believes them any longer. huge block sales this AM showing tat the last holdouts of big investors hare bailing.
PWE beast us to the first asset sales. Wondering if PGH is still even working on it. Been 2 months since the announcement.
You are correct. They have been saying they are selling them in 2015 for 9 months now. If they had started maybe we would not be down to such a low price.
Seemed like PGH was tracking oil price pretty closely until noon. Any recent news of PGH that anyone has found that may have caused the selling with oil up $1.50. Lot of block trades today to.
I don't want them to do it (just wanted to get that up front) But if one believed in the Opec/Russia deal saying they want things to settle around $70bbl..... selling the hedges right now would be some big cash. Like I said tough, would be a bad idea for PGH.