There has to something forthcoming here. For if the insiders know more than do we regarding net worth of resources then buying at a basement price is what players do. We'll have to sit here and wait this out as patient has often stated here. A smart person is he.
I don't think so russ....Keystone, if the facts were presented, was OK'd by the Obama Adm BUT they, the companies that would have benefited the most from that pipeline, would NOT sign off on NOT exporting the oil outside of the USA. In essence they wanted to use our land to traverse the oil southward to a warm water port opened 12 months out of the year. Canada basically shut them off completely with any attempts to pipe it to Vancouver. And going due East was prohibitively too expensive. The environmental people have a say so for sure with our Pres but he was OK with the Keystone project if it benefited solely our country. And that obviously was the furthest objective on their minds.
vzar47b....MOST of not all of the 28 NG plays that I watch daily were DOWN big time this AM only to finish (most of them that is) in the black. Wouldn't read too much into XCO's action today. HOWEVER XCO I believe has 2 major investors they're talking to on a very serious note. Stay tuned folks.
Hopeful the Obama administration will lift the 40-year-old oil export ban, pointing to a meeting Oklahoma's Republican governor, Mary Fallin, had at the White House last month. She said at the time that President Barack Obama was willing to talk about whether to allow U.S. companies to export crude.
I think he's what iff-ing. And yes we're all aware that this perfect storm (which was very succinctly categorized here as) is wreaking havoc big time on XCO.
They'd -itch to high heaven for a while stating that the oil companies are fleecing them again. But would shut up in 2 seconds if say the draft was reinstated as a result of needed military people to fight over there again. Then they'd yell to high heaven to lift the ban which would protect their little darlings from such acts as decapitations.
But you're totally correct arts. Lift that ban and let our companies compete over seas in the oil world.
The hedge funds are all over XCO. They smell blood. Willy has been wishing ill will on this company for months now. A hate thing for sure.
I don't know if this is logical thinking here but if this guy alone has 1/2 billion dollar lost why not wait until it goes under and buy the remaining shares (ours) for say $.10 each. Cost would be about $9M. Then liquidate all of its assets and hope they exceed his 1/2 billion losses.
Everything went against XCO in the last 2+ years. Oil crashed NG crashed strong dollar high debt. IMHO this is over here.
I think once this stock gets down under $1 Ross will buy it. Wait it out or sell all outright. We're "had" here no doubt. There's nothing to hang ones hat on here. Terrible NG and oil pricing, strong dollar and the exportation of NG is now not viable monetary-wise. Ross made a horrific mistake here. The frackers are their worst enemies now thanks to the Saudi regime.
Another NG disaster, PQ, canceled their common stock offering today. In other words you can't give these highly leveraged stocks away now. As we well know. XCO in my opinion will be bought out once it goes sub $1.