S.A. wants to stop USA fracking. S.A. will make noise to push oil (and nat gas) lower making fracking activities unprofitable. Fracking for oil is an expensive way to get liquids, 50% decline rate in one year, ouch. PGH can maintain and thrive when this cycle runs its course. I'm waiting to buy more, today's panic may have been the finale. PGH way below book value here.
Pushed lower this morning, then popped nicely, pulled back again; buyers are bottom fishing. Meanwhile, the distribution looks secure (remember hedges?) while the earnings report will be the real tell.
Listen to me, "Stop selling bargain shares, stop the crazy fear mongering. LNCO has the right stuff for good long term returns. Don't give an ear to fear."
PGH hedged positions
as found on their web site:
2014 77% $94.51 Bbl
2015 63% $93.99 Bbl
2016 33% $94.75 Bbl
Oil is a very slippery commodity,
quick to go down and up. ; ^ /
BTW you can't have my shares
Good news. We can stop waiting for KeystoneXL.
Meanwhile working gas in underground storage:
10/3/'14 3,205 Bcf
10/3/'13 3,564 Bcf
Winter better not be cold ;^)
This ERF sell off is over done. A below normal cold winter and nat gas becomes king (again). Given time ERF bounces back into mid 20's. However, it has fallen off the technical chart with no visible support. I'm looking to raise my stake. Maybe just small bites down here.
Eh, read it, nothing new or unexpected. The oil exporting countries have for a long time pushed a socialist agenda using oil revenue. Without promoting a diverse capitalist incentive to do other independent work the growing population gets more troublesome each year. We've already seen some of the 'dangerous mess' this becomes. Does anyone think it will get less messy?
I agree and I don't mind the withholding, if the ratio of my other income is correct to take full advantage of the foreign tax credit. Otherwise I lose some of the benefit. That is the hidden problem with all these 'new Canroys' that cannot be calculated until you file.
Nat gas up today (Friday) could be the start of the bounce back.
Investors are still ticked about the loss of the DRIP program.
I never used it so I don't get the uproar.
And oil can fall further before turning up (maybe at 80?).
Saudi has cut its price even as it has 'cut' production.
There is blood in the water here.
Sharks are sensing opportunity.
It's all figured out for us on the brokerage tax statement and with turbo tax, easy peezy.
Professionals buying stock and writing covered calls makes good money (and sense) if your sector is up with big demand or if you have a well diversified list of stocks. ETY for example holds many different types of stocks and writes covered calls. It is doing much better than GGN. In fact the entire Eaton Vance line of CLF's writing covered calls is doing okay. When Energy and PM returns to favor then GGN will also.
Investors like the tax advantages on this particular yield.
You'll have to wait a whole month, oooooo. The ex-d of these monthly payers isn't a real trade. Just buy and hold whenever you see these type dips, don't fret over ex-d.