Yes I did...what is he admitting? The truth? Sorry to disagree, but this is what I was told. I have spoken with him many times.
Among firms with high debt loads and attractive acreage, a few stand out as notable possibilities for an acquisition. Noble’s purchase of Rosetta last month offers some clues here. EXCO Resources, Penn Virginia, and Halcon are all carrying significant amounts of debt. This will likely cause these firms to explore strategic alternatives and could prompt a sale.
All three companies are risky though in the sense that if they cannot find a buyer, their future is in doubt assuming oil prices stay low. The assets of all three are reasonably good, but they are not well positioned financially for a down-cycle. And all three stocks reflect this reality.
Spoke to the CFO for an hour today. In three years IF oil is at this price, they will be out of business...simple as that. No sugar-coating. Company was built on $80-100 oil.
You're the same guy from Seeking Alpha.
This dog won't bark.
goskiing...if oil is sitting at $35-40 for years, we will all have much bigger issues to be concerned with.
Probably an ill-timed buy. I own this dog and there is no light at the end of tunnel in the short term. management has lost the confidence of wall st. more importantly, your posts are nothing to rave about.
Really..what's your cost basis? Th way this has crashed, the dividend is not sustainable, and all your dividends don't make up for the loss of equity...or do you not know this?
Is this better in an IRA or regular account?
This is where the money is made...maybe not in LINE, but other companies with solid balance sheets and low debt....I still like KMI, PAA...