Look at most the sector. MPO was up 150% at on time I had three stocks up almost 25%. This stock still has plenty of life left. We have only just begun to move again. The shorts in the sector have to be on edge right now seeing a 250% move. It can happen to any number of these bargains
Wti is up to 45 a barrel. It's been a steady climb after 38$. I have several oil stocks up 25%. Psyr is up 33%. Nslp line, ten the bxe dimn all doing well. Shorts will be getting margin calls with them up 25%.....they will be killing them self's running for the door. Crk has been a disappointment today.
What's this ,back, stuff. They are here and losing their money back to longs. The divy was only one reason to hold. They made the stock over correct to a must buy. The stock should bounce back paying off debt. Most stocks don't pay a dividend. Once they get this cheap just the stock going up will make you money.
I have them both. Buy plenty as these are way to cheap. You can thank the shorts for the bargain basement buys. Now they will be giving me their money ...... Buying back in ... It's time
I did also. It was time to go for it. I don't think it will get cheaper. The divy news was a shocker and I sold. Now it is just to cheap to pass up. I am in it now for stock appreciation. We can make money being this cheap. That's what the game is about now. Making money the hard way.
Sentiment: Strong Buy
Management and large players are buying at these ridiculous low levels ... New turn around have caught the shorts. There is a disconnect between the share price and the companies stable positions. It has been misread by the industry as to Comstock's overall operating position . Our first two re-fracs of producing Haynesville shale wells were also successful and added bonus,
Liquidity- In March, we completed a $700 million bond offering which paid off our bank credit facility and added liquidity to our balance sheet. On July 22, we completed the sale of our East Texas Eagle Ford operations to a private firm for $115 million. Burleson County properties Security- We have no debt maturities until 2019 . Pro forma, Comstock has ~$233 million in cash on hand which provides it ample liquidity with which to manage going forward. Comstock no longer has a bank facility that's limited to a borrowing base. GAS hedged. In March, we completed a $700 million bond offering which paid off our bank credit facility and added liquidity to our balance sheet.
PRODUCTION Gas production was up 35% from the first quarter rate of 91 million per day. We expect our Haynesville production to continue growing in the next two quarters. For all of 2015, we estimate our gas production will average between 125 million cubic feet per day to 150 million cubic feet per day. HEDGED - We recently added some natural gas hedges at $3.20 per Mcf starting in July for the next 12 months . We will continue to safeguard our balance sheet and with the recent closed shale of our East Texas Eagle Ford properties we have $283 million of liquidity and have significantly reduced our spending for the rest of the year to conserve this liquidity. CC said- they are set for cash for the next year or so, despite the low energy prices. They have had enormous NG volumes with their new drilling methods in the Haynesvile(23 MMcfg./d. average for 5 wells). About 3/4's of the way through the call they said the production was steady after 90 days. That's a big deal, as normally, it falls well below then.
Their re-fracs are doing extremely well, going from 500M to 4MM on one well. They have thousands of drilling locations. It's almost like they are talking about a much larger company, with all the wells they could drill. They don't have pipeline take or pay issues, they get higher prices from being close to the end user. A lot of the NG will be used a short distance for all the new chemical and plastics plants being expanded or built in Texas or LA.
45% shorts . They better play a lot of games or the margin calls will wake them up. Many put the pressure on this tell it was a must buy. They are getting a taste of their own medicine. You don't see me selling in AH If you get a chance to buy around 2.5 , I would hop on it. This could be at 5 in a heart beat. This has ran before and it took no prisoners . The shorts had a great chance to cover and should have took it. THEY are pigs.