Yes I'm adding to GDX.. There's still tons of gold in the ground and the strongest Miners will learn how to profit on $1000 Gold again as they profited when gold was below $500.. I will hold GDX for a few years..
I would hope that management is doing everything possible to improve the debt situation which is destroying so many commodity company's common.. As with PWE if PGH really needed to suspend the dividend I hope they will.. I would to think that will give us a extra cushion if things were to continuously worsen.. Reminder PWE is lacking a hedging program.. At the moment the shelf offing is off the table.. An asset sale and a possible divi suspension can go a long way in improving debt.. Of course it's not optimal to sell assets during this time; however, the ENTIRE sector is caught up in a unexpected brutal Oil depression in recent history.. hindsight is 20 20 it's now about what needs to be done after the fact..
I posted this on SA:
They'll be talking about Iranian Oil and the strong dollar daily and for months.. If anything there was a huge amount of capitulation and extreme fear.. besides the drop in Oil prices there's no recent fundamental changes that incurred internally with PGH.. If anything the latest headlines from PGH have actually been positive, Husky pipeline, better than expected production numbers from the SAGD project and granted the non-core asset sale portion is left up for debate whether it's consider a advantageous or a distressed move.. At this point we had such a huge sell off that we can sell at $2.01 and risk a relief rally back to $2.25.. It can go either way no one can predict the near term outcome.. It's a difficult decision for me and other longs to make as I almost capitulated myself on Friday..
It's Ex- Dividend Date on Monday so expect a drop unless Oil is up a decent amount..
I would put CB on ignore as he's an extreme disgruntle long that can't get passed his losses that he whines and bashes PGH 24/7..
All independents have high debt.. when Oil was above $100 it was a great idea.. now in this Oil depression only the majors will hold steady.. go and find another board with a 52 week low and bash..
Posted on July 16, 2015 by Jamal Genner in Analyst Articles - CA, Investing
Not sure how accurate the dates are.. this may be an old rating..
RBC Capital reduced their price target on shares of Pengrowth Energy Corp (TSE:PGF) from C$4.50 to C$4.00 in a research note issued on Thursday, MarketBeat reports.
Yes PGH has been a bad investment up until the Lindbergh Thermal Project where i believe they started to turn the company around with some positive updates, unfortunately PGH is in one of the worse oil crashes in history so at this point it's all about the price of Oil in the next 12 months.. When I say the worst crash in history in the past Oil ALWAYS rebounded in this case due to overproduction Oil may see an over supply indefinitely.. PGH is longer an investment but a gamble at this point.. may sell half and go with an ETF so I can sleep at night..
They are shopping some of their assets and it appears there are no buyers.. the ongoing cases are looking less and less that a significant settlement can be achieved.. they're fighting with the biggest corporations in the world that have the best lawyers that money can buy and a decent amount of political pull to rid these so called "IP Trolls".. I do wish you longs much luck.. I hope you can get a decent settlement soon.. anything is possible..
Hedges are in place to protect them into 2016.. we need O&G to be higher by the end of the year.. I believe PGH can get through this O&G depression while many others are filing for BK protection.. I would hope that if needed they can use the dividend's equity to pay down debt because we are in desperate need to get some relief with our principle..
Stock Offering.. Where else can they get equity to maintain their salaries and continue going forward with their cases.. They seem to be having a hard time selling assets.. this has failed as an investment awhile ago..
We're making new 52 week lows everyday.. We need a catalyst either from management e.i. insider purchases asset sale, anything or we're going to have to endure the pain until the next earnings date.. this is brutal.. Is it too late to sell at a lifetime low? or are we going under $2?..
"monetizing this intellectual property"
"unlock shareholder value"
Not the first time we heard those statements..
all talk no action.. tell us how you are going to get $$$ to fund this strategy? Are you "excited" that you will be paid a decent salary/bonuses while shareholders are slowly getting wiped out?
Same here added at $2.21.. wish I'd done a market order at $3.20 on some of my shares rather than my $3.23 limit sell order.. cost me a quite few $k's..