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Planar Systems Inc. Message Board

realinvestmentstrategies 121 posts  |  Last Activity: Aug 29, 2014 3:02 PM Member since: Feb 27, 2002
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  • Reply to

    If you

    by caliumhound Aug 29, 2014 10:52 AM
    realinvestmentstrategies realinvestmentstrategies Aug 29, 2014 3:02 PM Flag

    What if they sold a batch of their undeveloped property to raise cash?

  • Reply to

    Began a position here again today

    by an_ole_miner Aug 29, 2014 12:21 PM
    realinvestmentstrategies realinvestmentstrategies Aug 29, 2014 12:43 PM Flag

    Keep an eye on the property developments. It’s a predictor of what will be flowing through the future income statements.

    IMO, the rate of value increase of USEG properties has been extraordinary over the last two years. Most of that improvement is not yet reflected in the most recent PV-10 analysis. But do your own D & D.

  • Reply to

    My money is on Frank and Ray

    by booleansearcher Aug 27, 2014 8:56 PM
    realinvestmentstrategies realinvestmentstrategies Aug 28, 2014 1:57 PM Flag

    What makes you think Frank did any more than cherry pick a prime Lucas property at firesale value?

  • Reply to

    Wells in TX

    by glenw00doo1 Aug 27, 2014 12:59 PM
    realinvestmentstrategies realinvestmentstrategies Aug 28, 2014 12:47 PM Flag

    I did not see any breakdown of oil sales in the 10Q of Bakken vs Texas. However much of the revenue increase from Q4 2014 to Q1 2015 came from increased gas sales.

    Regarding capex, 80% for Q1 2015 went to the Bakken, leaving 20% for Texas, so it looks like things were in progress.

  • realinvestmentstrategies realinvestmentstrategies Aug 28, 2014 7:50 AM Flag

    Yes, Boolean, you've established quite a reputation for yourself.

    After determining that USEG was too much risk, you went out a purchased a penny stock that is about to get de-listed.

  • Reply to

    Summary of Revenue Growth

    by offgridblogger Aug 26, 2014 2:11 PM
    realinvestmentstrategies realinvestmentstrategies Aug 26, 2014 9:25 PM Flag

    Thanks for the explanation. I have not done much on political message boards since Yahoo got rid of the Presidential election 2000 message board. I'll check out your word press.

  • Reply to

    Summary of Revenue Growth

    by offgridblogger Aug 26, 2014 2:11 PM
    realinvestmentstrategies realinvestmentstrategies Aug 26, 2014 4:24 PM Flag

    Boolean, I suspect we may have found the individual that gives you all those thumbs down posts on the ESTE board. One of his new id's appears to be offgridblogger.

  • Reply to

    Summary of Revenue Growth

    by offgridblogger Aug 26, 2014 2:11 PM
    realinvestmentstrategies realinvestmentstrategies Aug 26, 2014 2:46 PM Flag

    It looks like you've made only two Yahoo posts. How did you become such an expert?

  • Reply to

    keeps testing its upper resistance -

    by booleansearcher Aug 25, 2014 7:46 PM
    realinvestmentstrategies realinvestmentstrategies Aug 25, 2014 8:05 PM Flag

    Here's another strategy for you since you think USEG is high risk...

    Come back in another three months and see if the EPS and share price has turned around. If the share price doesn't go up, you will have saved yourself some aggravation. But if you're late to the party, there might still be some momentum to ride.

  • Reply to

    What were US Energy's earnings

    by booleansearcher Aug 24, 2014 4:01 PM
    realinvestmentstrategies realinvestmentstrategies Aug 24, 2014 9:54 PM Flag

    Why do you consider USEG high risk? I there a fundamental danger? Could something cause it to go bk?

  • Reply to

    What were US Energy's earnings

    by booleansearcher Aug 24, 2014 4:01 PM
    realinvestmentstrategies realinvestmentstrategies Aug 24, 2014 6:42 PM Flag

    $56 thousand per GAAP.

    Since you said you are still doing your DD, I asked Margin whether he would recommend these shares to you at a price of $4.03.

    So far, Margin hasn't answered.

  • Reply to

    Lots of good discussion

    by margin321 Aug 23, 2014 8:02 PM
    realinvestmentstrategies realinvestmentstrategies Aug 23, 2014 10:16 PM Flag

    So Boolean wants to know. In your opinion is USEG a good purchase at 4.03 per share?

  • Reply to

    USEG is again looking TOP HEAVY

    by booleansearcher Aug 22, 2014 9:20 AM
    realinvestmentstrategies realinvestmentstrategies Aug 23, 2014 8:32 AM Flag

    I don't agree with your high risk assessment. IMO it is low risk because the share price is so low compared to the value of its assets.

    The oil business is being monetized in a normal time frame. Just as it's taken a couple of years to bring half of ESTE's Statoil wells on line, it will take some time to bring the Buda wells online. Last quarter, 10 gross wells of 40 (long term potential of 80) showed production results. Two more are acknowledged to be showing production in Q3 and a total of 15 are expected online by year end. At the beginning of August, it was disclosed that the last 4 Buda wells were extreme winners.

    The mining business is more confusing. But it seems management is trying to bring it to resolution. When they do there might be a significant one time windfall. Despite this, there is plenty of cash to keep the mining project going.

  • Reply to

    Q2 Keith Larsen CEO statement

    by booleansearcher Aug 22, 2014 8:03 AM
    realinvestmentstrategies realinvestmentstrategies Aug 22, 2014 12:15 PM Flag

    Barry, regarding you question about property valuation have you looked at page 19 of the investor presentation? This is the one set of properties where we have a statement from the company about what it might be valued.

    It suggests a potential PV-10 for Buda of $140 million based on 320 acre spacing, and if 160 acre spacing was used the PV-10 goes to $280 million.

    For Boolean's info, almost non of this value is listed on the balance sheet, as it only goes on at cost, not value. In fact only a pittance of that $140-280 million of potential PV-10 was listed in the year end standardized measure of discounted cash flows.

    The way I evaluate things is as the company acquired these properties, it created value that isn't recognized through the income statement until actually converted into production and sales. But the value of these properties is so huge in proportion to the company's size that just looking at the income statement with a glance doesn't provide an accurate picture of the company's performance.

  • Reply to

    Q2 Keith Larsen CEO statement

    by booleansearcher Aug 22, 2014 8:03 AM
    realinvestmentstrategies realinvestmentstrategies Aug 22, 2014 9:37 AM Flag

    Since you're a big picture guy, consider Buffet's advice on investing...He looked for companies whose individual business units could be sold for a much higher price than the share price of the company. We have three separate business units in USEG, Bakken wells, Texas wells and the moly mine. I suspect the value of those properties are three to five times higher than represented in the share price.

    Accounting of oil and mining companies can be a bit tricky. In the case of the moly mine, it hasn't yet produced revenues so all it does is show bottom line losses. The value is in the property which is probably many times more than the book value. I believe management is trying to position it so that it can be sold for fair value, when it occurs this would be a huge catalyst to the share price.

    The Bakken wells have been underproducers, averaging only 83 boe/d per net well in 2013. Despite that, some of those underperforming properties were just sold for $11.5 million quite a premium over their 7.5 million PV-10. But back to accounting the revenue came in as a credit to the general property pool rather than a gain in the income statement (ESTE used the same technique when it sold its Colorado gas properties.)

    The Buda wells are transforming, lots of profit, quick pay back and PV-10 values several times the development costs.

    The recent share weakness at USEG reminds me of what happened to ESTE in the spring of 2013, when the share price kept going down on low trading volumes. After the dust settled, it was obvious that ESTE's share price decline had nothing to do with its fundamentals...

    Good luck.

  • Reply to

    Q2 Keith Larsen CEO statement

    by booleansearcher Aug 22, 2014 8:03 AM
    realinvestmentstrategies realinvestmentstrategies Aug 22, 2014 8:59 AM Flag

    Nope.

  • Reply to

    Nice Presentation

    by margin321 Aug 20, 2014 6:19 PM
    realinvestmentstrategies realinvestmentstrategies Aug 20, 2014 6:57 PM Flag

    I was thinking it was $3 million annually, not per quarter.

    While I'd like to see the company provide a full analysis of this mine's value at some point, I respect the fact that there may be some sensitive negotiations going on with the locals and maybe the management doesn't want to say much now.

  • Reply to

    Two Questions I'd like answered tomorow

    by margin321 Aug 19, 2014 8:56 PM
    realinvestmentstrategies realinvestmentstrategies Aug 20, 2014 7:00 AM Flag

    Misspells are common when you're still in USEG 101.

  • Reply to

    Two Questions I'd like answered tomorow

    by margin321 Aug 19, 2014 8:56 PM
    realinvestmentstrategies realinvestmentstrategies Aug 19, 2014 11:09 PM Flag

    I'd like them to describe the values of their properties, Eagleford, Buda, Bakken and moly.

  • Reply to

    Presentation

    by tejas747 Aug 19, 2014 12:51 PM
    realinvestmentstrategies realinvestmentstrategies Aug 19, 2014 1:15 PM Flag

    It's what he says, more than how he says it.

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