One positive article about Chinook's potential in Tunisia and western Canada and the lemmings jump on board. Sonde Energy as two proven wells off Tunisia but, with the unsettled political condition and the inability of a partner to provide funds to develop the area, Sonde may lose the whole deal and fall into bankruptcy. They have sold off much of their western Canadian properties as well and come up with non commercial drillings in the Duvernay Shale (all wells in the Montney/Duvernay are not productive) regardless of what acreage the company has. Be very careful about these less than junior drillers.
And we all know what your opinion is worth don't we beeny--that is except for you. (Spoiler) 3.00 and your opinion can get me a cup of coffee at Starbucks.
Quite right, meant to say 2015 but I also said "I think" which means I was not claiming infallibility. So please, if you reference that comment at some time in the future please get it correct.
Gosh wrongo, what happened to the losses you used to mention before the gain of 40 million. You seem to be very good at picking and choosing numbers to use when it suits you. You are right about the price not being very good right now but outside of that little nugget, what was there about my post that was not accurate? Don't bother answering because, barring a collapse to 70 dollars a barrel or something like that, there was nothing wrong with my suggestion of what they might gross.
If Magellan can average that for the year they should have revenue in the 10 million area before expenses for next year. I frankly think they will do better and will return to profitability next year.
I can't figure it out either but it does not surprise me that an accountant would know but not be able to explain it in layman's terms. In regards the dividend, they have been keeping it at this rate for many years. I just reinvested in new shares with the dividends and I suspect my average cost per share is about 4-5 dollars if I pretended the dividends were like stock splits. I agree that this is a twisted view of investing but it satisfies my view of the system.
Part is from the dividends, part is from capital gains and some is from paid in capital. There have been times when the paid in capital made up about half the distribution but recently the gains in the market have allowed this closed end fund to pay the distribution out of capital gains and dividends. That use of paid in capital has been a sore point with some and one must wonder what the price of the shares would be if the distribution were 5-6% instead of 9-10% each year. I just collect the money and watch the stock stay relatively flat although I have made some recent purchases around 9.90.
Did the contract say take or pay for a set amount of gas? If so, then the gas will be sold at increasing prices over the years based on the Australian CPI. I do not see how Santos et al could undercut a price set by the government and based on Australian inflation. Would there not be an issue with "dumping" gas below market prices if they were to try that?
Excellent reply doc. I wanted to scream when they started going on and on about Space X stock but refrained from telling them there was no stock market for Space X. I would be very happy if Orbital gets to 30 but I honestly expect at least a 10-15% correction to this market not too far in the future.
Just saw it pop over 24. That is a good sign and I hope it can hold. I understand what you are saying about Cramer and you are right about him being part analyst and part entertainer. He just wears on my nerves a bit.
The real fireworks in a game will be Mike Leach's "Air Raid" offense at WSU vs the potent running of Steve Sarkisian's UW offense on Friday at 12:30. WSU is probably the most improved team in the PAC 12 and UW finally began to show what they are capable of in ringing up 69 points against Oregon State last week. If you get a chance to watch that one guys and will not miss others you want to see then tune in.
Oh, and have a great TG Day with family and friends and try to not shop until at least Saturday.
Cramer reminds me too much of a sleazy used car salesman and I have seen him support stock of more than one company on his show after a rather large gain in share price only to watch those same stocks flatline or drop in value. And no, I cannot give specific names but even he has admitted making mistakes after praising some companies and managements. And for that I applaud him. All the pounding of buzzers and bells going off seem too much like a carnival sideshow. But, I know he is right sometimes and I hope this is one of them.
The gas prices will be set by the government so that may not be an issue as much as the volume of gas that Magellan may be able to sell which is quite likely to be less absent any other outlet for their production. I certainly hope Magellan did not go into this deal in the hope that Gove would be a guarantee.
He would not give the company the time of day for the past two years but now, after a 50+% jumpt in price, he likes it. I wonder if I should view his change of mind as a kiss of death.