was going to tell you to buy HNR today but I didn't get my order done before it exploded only got 1/3 of the 70k shares I wanted. up 23% today
that is conservative, if they close both parts of the venzuela deal they will have $6 in cash and no debt and an asset in Gabon worth $2 per share, I would say closer to $8, just need a close soon.
i picked up 30k shares this am early and looking good the next 30 days will make or break this stock, I felt better when I realized the buying company was private from argentina, the first phase goes through in Dec this will soar a dollar or more.
was going to let you know about HNR after I got my orders filled this morning for 70k shares but I only got 19k before it exploded, my feeling is it goes to 2.50 downside or 8 before I get out. but not willing to pay at this price but should, it will all happen in the next 30 days
I think that that is a given, the cup is forming then the nice up handle and this could get to 40 in next 4 to 5 months barring a market correction.
i thought that about it for months since I bought at low 50s and sold calls I had to roll out or buy back at losses until I gave up on that idea and just rode the bull.
pros, deal announced for $8 per share negative, it is with Venzuela, likelihood of closing is dim, country has a bad record of confiscation of asset rather than purchase as they have done repeatedly and recently. next 40 days will tell, honesty of leadership in this company has been called to question by a number of articles, What is everyones feelings and why to the closing of this transaction when so many others failed??
well I also have one of those but not moving out of this one, it has better financials than those but pipeline needs some improvement, maybe they will buy another company with all that cash they are making.
i day traded it three times today on top of my core position and picked up another 2400 dollars which reduced my core by 48 cents average cost. It traded well today and I didn't get too greedy.
I expect cash flow to go up significantly not reducing capex and yes it needs to just to cover the distribution on 16.5 million more shares and 400million more in senior debt but that capex has more than offset depreciation of wells in the last 2 quarters and I expect it to continue esp. with the acquisition while I don't expect a significant amount 50 million would be nice in the next 12 months or use the cash flow for any new small acquisitions which I am sure there are numerous ones in the Whiting area.
what are you going to do when the 13 days are up, ME i am going to rejoice because your postings will cease.