Ophthalmology is my field.
Gene therapy will be the CURE for retinal diseases of all kinds -- and other diseases late.
There is a reason REGN invested in Avalanche -- REGN believe is gene therapy.
AGTC has as good (or better) science than Avalanche.
AGTC will get a major partnership and this stock will fly, I believe.,
Just a little patience is necessary.
AGTC and AAVL will be the next big winners in the eyecare sector. Book it.
In my opinion, AGTC has the better science but AAVL has the REGN partnership.
I hear Buffet likes USG CEO Metcalf's management style and initiatives.
Not much risk. I was buying at 27 recently.
Option premiums are decent because of possible buyout potential.
Might have been a sort of "mea culpa" for having to retract the previous more upbeat guidance.
A big rule in the "guidance" arena is to underpromise and over-deliver -- that is gospel in guidance.
PVA broke the rule.
PVA management seems pretty aggressive (at least in expanding the EF drilling) but there is a time to be a bit conservative -- investors love a positive upside surprise.
Credit PVA management with doing a lot of great things in the Eagle Ford but the rapid expansion from two to eight drilling rigs seems to be a little too much to bite off so quickly.
The recent re-assessment of second half guidance appears to be a sign of a little fraying in management credibility.
With all due respect, and given the Soros position and the recent huge purchase of 10,000 Oct. calls by some heavy hitter, it looks like now may be the time to negotiate a buyout of PVA that rewards both management and shareholders for a job well done.
If management signals that it is willing to explore "strategic alternatives" it can make a deal that benefits everyone. Being pulled kicking and screaming to the altar is not going to help anyone.
Maybe the last few weeks of uncertain guidance (and quick retraction) has taught management that it is time to turn this big, productive acreage over to an operator with greater resources and experience.
I don't disagree at all.
The more "in play" PVA is the better the chance of a takeover at a nice premium.
PVA may have bitten off more than it can chew with eight rigs going but I tend to like an aggressive company that tries to press its advantage.
It's a production growth story and a couple of months here or there shouldn't make a big difference as long as the production growth is occurring.
I think the buy of 10,000 short-term calls is big. Anyone other than Soros buys that many calls and they probably get questions from the SEC. Soros has already made a big commitment to PVA so the SEC probably wouldn't question additional buys of shares or calls.
Is this for the benefit of potential bidders for the company -- coming so soon after an earnings announcement?
Those 10,000 calls bought the other day are another step toward putting PVA in play.
Huge buy of October 14 calls probably caused option market makers to hedge their positions by buying lots of PVA stock. Who bought 10,000 Oct PVA calls is the real question. Soros?
In my opinion, It would make some sense for Soros to buy calls at this point if he is getting more confident that he can force a sale of PVA.
Best guess is that the option market makers are scrambling to buy PVA stock they don't get caught without hedges if a deal occurs.
Leopard Hunter area -- four wells IP averaging about 930 barrels of oil per day.
(This is probably on the acreag bought from Magnum Hunter)
Any IP near 1,000 barrels of oil per day is good.
My vote is firmly for PVA management.
Management was quick to see the potential of the oil in the Eagle Ford and have done everything in their power to exploit this potential production bonanza. I have not seen any management blunders -- on the contrary, the asset sales have been well-timed and the growth in putting more rigs to work has been impressive.
So let's deal with the company's critics;
Argument number one from some analysts: PVA "missed" on quarterly numbers.
This is a laughable argument. Does it really matter if a well came online in June or July? This is the ultimate short-term canard that analysts love to cite because they have no real understanding of the company's longer-term goals.
Argument number two (from Soros): The company is leveraging up; the balance sheet.
Soros has gone from praising the company management to complaining about a recent debt offering.
Well, do you want a pretty balance sheet or eight rigs out there drilling in the EF? Personally, I want to see the "pedal to the metal" production growth that is the future of my investment in PVA.
In my opinion, Soros should be actively facilitating a takeover of PVA that works for everybody. I think the ideal would be to talk to companies that would like to get into the EF and engineer a deal that would allow current PVA management to operate the EF division (or a total shale division) as a bolt-on. Current management deserves to be rewarded. They are good operators and a bigger company would be lucky to have them on their team.
There may be valid negative arguments to make against PVA management but I don't think the quarterly "miss" matters at all and I don't mind leverage on the balance sheet if it serves a longer-term goal.
In Gonzales, the Cinco J well over 2300 barrels of oil per day with significant gas.
In LaVaca, seven Bock wells all filed -- six have excellent to huge IPs, with a couple over 2,000 barrels of oil per day IP. Only one well could be considered mediocre.
Looks like significant gas as well on the Bock wells..
These are just big, consistent numbers on tight chokes.
As I have said before, only EOG is getting bigger numbers out of the Eagle Ford.
PVA is EOG Junior.
I don't know if there is a connection between these well filings and big volume in PVA late Friday.
Please check for yourself. I may be missing something on the gas production IPs as I usually just judge wells on the oil content.
I am not an oil expert but these are the best consistent numbers I have seen out of PVA.
Smart of PVA to file eight wells at once -- gets people's attention.
Can someone pin down the locations for these new wells? Are any in the new drilling area?
I think "riskonriskoff" can pinpoint locations. He makes some excellent posts.