Sure hope so. Say, do you ever remember a time when Magellan had 40 million in revenue from actual drilling and sales? I remember over 30 million from selling to Central and even a chunk to Santos but sure do not remember numbers like that from actual operations. I challenged wrongtom on this and he has not answered with that moniker or as avi which are one and the same I am sure.
Agree, but that restructuring of the loan to pay just interest is only good for one year and then the principal payments have to start again. So much rests on HH and on a solid recovery in oil prices. I would be ecstatic if they did not have to sell any assets as an option but....
The restructure has given them time to analyze options but if those options are not suitable I am not sure what other choice they would have except Chap 11. Certainly hoping that is not the end result.
In the majority of cases, I believe, that is the case but not in all. Until Chap 11 is declared I will hold out hope for a positive outcome.
I am seeing figures of 110 million that NASA (i.e. taxpayers) will be dinged. But I remember people talking about how insurance would cover much of the Orbital loss also. So, is their insurance for SpaceX or is the 110 million after an insurance payout?
It keeps the company listed on the NASDAQ, but the only thing that matters is whether or not the company can avoid Chapter 11 bankruptcy and destroy all value for common shareholders. Quite simply, there is little time left for the company to achieve that goal.
Wow, 22,000 shares at about 35 cents a share! Such an unloading is unprecedented and clearly vile and manipulative (sarcasm intended).
Actually, the year we sold the onshore assets to Central Petroleum we got (at that point in time in 2014) about 33 million US. Could you enlighten us as to what year we actually had 40 million in revenue from gas and oil sales?
Also remember that that 40 million was from sales of assets. Yes it is worth less and, as I have posted, common shareholders may end up with nothing but a large number of small oil and gas firms have already gone under. 80 dollar oil and we would not be having this issue but circumstances are such that the Magellan board will have to settle for much less than what they had hoped even a couple years ago.
Have noted that virtua98. But avi wants to ignore that and the key is that someone else is willing to see that value in Magellan before it is too late for the common shareholders.
What the h*** does that have to do with what I posted. Does it have value or not, to someone or not--please answer, for the first time, honestly.
And yet, avi, it keeps trading in the 30+ cent range which says (based on 45 million shares) that it has a value to investors (not you) of at least 15 million dollars.
Prince, as a result of what I see as missteps, I believe our company is vulnerable to being taken out. I hope earnings are so good over the next couple of quarters that we would get 14-15 dollars per share.
Over 5 dollars a share estimated next year gives this about a 13 PE which is great for a growth stock. But, with the current market sentiment, I can see picking this up around 66-67.