It was fun (in a macabre and terrifying way) watching failure after failure and the reasons that went along with it. Everyone except the shareholders seemed to win on this one and its predecessor.
Just had a 4.3 shock here in central WA state. No oil drilling or fracking going on here at all. Faults exist in many areas of the country and will become active at times whether or not the oil industry was involved in the area. Fracking is a cheaper way to exploit the resource from one pad but limits and, in some cases, bans are being put on it and more restrictions may be in store. In the meantime, let's hope we can get approval for the flow test at HH and that we are able to monetize the block offshore Darwin and continue to increase production and lower costs at Poplar.
I have no idea if fracking can cause earthquakes but I do know that many earthquakes were recorded in Oklahoma before fracking was even a technology used in the oil industry.
Having trouble getting to 70. About 17 PE at estimated earnings now and quite fairly valued. 80 perhaps in the next year in a good market but not near term.
As gas is not treated the same way as oil in terms of price declines, companies with gas supplies (Central Petroleum, Beach Petroleum, Santos, Woodside et al) are increasingly in a better situation financially than they would be if they were only oil producers. Given declines in the prices of the shares of these companies, there might be some excellent buys down under for patient investors.
I just think some people were expecting 15-20 cents a share earnings and, despite probable good news into the future, are not willing to hold it for now. Down about 10% on much larger than normal volume.
Thank you Eddie. Your explanation has given me much more information than I had previously known. Volatility has never concerned too much but this latest huge divergence in the U.S. dollar vs the Aussie has definitely damaged my portfolio (I have reinvested IAF distributions all along the way for nearly two decades and have sold for a profit a couple of times but now probably have too much as a proportion of my IRA). Still, I am willing to keep this for at least 4 more years and do not think the slump in China or Europe will last that long. Thus, I look for a return to an upper area approaching 10.
Scott Trade guy needs to go back to basic math. .449 might round up to .45 or 45 shares for every one hundred but it is not going to round up to 50 shares for 100.
Musk is too arrogant by half and has assumed his PayPal idea can apply to anything and his force of personality will make it work.
I would guess it will be around a PE of 16 if early estimates of 4 dollars a share are true for combined earnings.