Please read carefully:
"There is no guarantee as to the exact number of shares that will be repurchased by the company, and the company may discontinue purchases at any time that management determines additional purchases are not warranted"
That is the most meaningful part - it is like me saying that I will buy x number of shares but I can change my mind at any time :) Plain BS...
That drilling will never happen. There is no $$ and no means. A few years back HUSA lugged a long-awaited for well. It had also been drilled "net to a promising field"... As for the stock price - will resume the free fall all the way to BK.
At the end of today, and when the bloodbath eases by next week, the dividend percent will still be around 14-15%. That is the good news.
The bad news is the end of this partnership - called bankruptcy.
Not sure, Tim... My pessimism is at the max. The CEO is not even available for customer relations. At least John T was known for replying to an E-mail once in a while, or even entertain a few minutes on the phone. I spoke with him a few years back though... Boylan does not care, he has his regular full-time paid well paid) gig anyway... Please anyone contradict me.
Whether Crop is out or not, this does not change my assertion that HUSA will not see the end of 2015. This is a bankrupt, possibly money-laundering "operation", with a fictional payroll solely aimed at enriching the few and alleviating JT's loss.
Unfortunately, my breakeven is the same elusive $0.26... not that anyone cares.
Someone is doing a very thorough job at weeding inconvenient messages on this board. On Oct 7 I posted twice (messages that may not be to management's liking) and they go conveniently deleted.
Anyone else experiencing this?
Ok, I am again missing something... Isn't there a large Chinese venture operating just fine in the area, to the tune of millions of barrels, etc etc? In the same region? No problems with rebels and none with non-rebels either.
Jsch - I stand corrected. But I cannot hide my feelings that HUSA will likely abandon the project due to concerns discussed here, (un)safety included, terrain challenges, etc. Last but not least, cash will run out before all the optimists on this board expect. Someone quoted JT or CEO Boylan as drilling will start this year, is there any sort of company statement on that prediction? I do not think that there is, but I could be wrong/misinformed again.
I see the link with HUSA, but in a very negative light. Let's say I am no oilfield expert, but in Physics I learned about the principle of communicating vessels. Therefore, the more oil Cannecol pulls, the less is left. HUSA is light years away from even parking a rig in Serrania, let alone drilling. I have also read how HUSA never employed a 3D system to assess the reserves, etc, etc.
From what I hear, and I am NOT as well documented as others, there is drilling underway by other companies in the same geographic area, and they are doing just fine in terms of production.
I can't speak for M.T., but I believe he has been prepared for a while to write his 10M shares off as a tax/business loss. He has his golden parachute granted, and a soft landing as well, I believe. John B. definitely carries no weight in HUSA's affairs at this time, as he is merely a token presence of the payroll.