More likely however it was the new shares the bondholders got in exchange for debt that got dumped,they were seeking liquidity
lok at g&a bama-salaries are all out of whack compared to performance,they will lay down rigs before cutting the million dollar salaries and bonuses,no belt tightening, they appear to be milking a dying cow and rather than call the vet they are just milking more faster and then on to the nxt thing
now come on you know better,institutions cannot touch this thing with a ten foot pole,its radioactive! only retail fools and newbies who don't know any better will be buying the cheap shares offered by the bondholders now
so EOX to do a reverse merger into weed is what you are saying??? or just a reverse split to buy weed for the christmas party?
they'll get the writedown,and pay less,only the shareholders will get scrooged but that has happened so many times before here,mgt will be taken care and Im sure could care less as long as they get something
not as a public co. they don't. they will want to pay as little as possible to you silly and miserablly unlucky longs to take it private,you all will be lucky to get 50 cents and there will be a premium in there for ya at that price so savor it!
they are taking it private,pretty obvious and shareholders will get less per share than today's close
hope youre happy,cuz that is what you get
name one analyst who likes EOX now! You cant,that analyst bull is 6 mo old and Yahoo hasn't updated,they have all fled and not a one of them would say its a buy now in public sorry
oil could recover in a few years time but that wont help a co. who squandered and wasted so much money when it was 100$+ and never made a dime,they are already dead don't you see lord?
theres nothing left to short really,all the good profits there have been taken, But these guys never made any money or had a Single Well PAYOUT ever!!! When oil was above $100 the Co. is already BK on paper and the 5 million shares today were all mgt and bondholders exiting
whoever is buying obviously is very savvy and made alot of money in '14 and needed a legit writeoff and is taking it there is no upside here ,if the bank takes the co. or the assetts are claimed in bk by other operators there is no premium for someone buying a share now
yes the credit line 'increase' on their revolver is ILLUSORY they cannot actually borrow any of that money just to pay salaries,bo nuses,etc. it is pegged to prices and conditions for capex that will not materialize
you cant fire the board or the management,because they would all have to fire themselves and quit taking the big pay,not the way co. was constructed-they have done this to the shareholders so many times(remember voyager? EO?,etc) they dont care,never did,it amazes me that more lemming keep flocking to the shares,that greed feeds their greed, they love you guys!
My that is some serious dillution, with only another 151.1 million $ of convertible notes to go people gonna be snapping up all that stok coming onto the market like hotcakes fresh off the griddle
yessiree they are TOAST!
Sentiment: Strong Buy
shareholders never had anything here to begin with,if you go all the way back to the beginning of the co, the equity retail stockholders were only used to buy the shares mgt. gave themselves and sold each month, they will now be used to help the bondholders recover a portion of their investment
Sentiment: Strong Sell
I understand that the bonds were literally worthless and that the stock they will get is not much more less so
but good for the new shareholders getting more cheap stock in exchange for the bonds they are trading for it! Once and for all the LONGS of Eox can now plainly see only the convertible bond holders will be looked after here,the equity gets nothing! management is ok with whatever as they have been looting all along
aggressive? more like base jumping from Everest in a flying suit is more like it,it would be less aggressive to bet it all on the 76'ers to win this yrs nba championship
I think 25 cents represents fair value,honestly don't see it going much lower than that