But I am not counting my chickens before they hatch a lot more eggs in the money basket :-) If oil can recover to the 60-70 range, PSD will do just fine.
Wrong again wrongtom. I qualified that statement with the phrase "one bit of good news". No good news=no agony for shorts is what that says.
And the alternative to the reverse split would have been...? Be a gentleman wrongtom and remove yourself and all your other id's (emanating from the original xxxfinance) from this board as you have absolutely nothing of value to contribute.
I could see all their UK properties going for about that much in a distress sale but if they go under, they lose them anyway and someone else picks them up. The problem is that is the flow tests prove positive, that company in future would have to pay more than they would now. Would not be surprised to see UKOG make a bid for at least the HH holding.
Who cares? If, as you point out over and over, the company is going down the tubes, then whether they ever file a 10K is of no concern to shareholders who have lost virtually everything anyway. If, on the other, hand they can come up with something to keep the company afloat then let's hear it. For example, have the top dogs take a 1 dollar yearly salary etc.
No question about that mikes. The dividend cut is only at the end of stockpiling of rigs and the crash in oil and gas prices. But, I like the fact that PDS has modern stuff and is more than just a one trick pony providing only rigs. Going to be rough sledding for another year I think but I can hold on.
This one is setting up as a takeover candidate at these prices. I expect the dividend to be eliminated to conserve cash but also expect shares to be substantially higher in18 months to two years.
Am doubling on Precision. Too good a company to think it will not attract some top level attention as a buyout. Sonde, like Magellan, I stayed with hoping for lightning in a bottle but world events in terms of Libyan turmoil and a decline in world oil prices played havoc with both companies. But, I am a big boy and able to accept the risks of investing in these smaller companies.
Total abandoning of the ship now taking place. Well, win some and lose some and I had decided long ago to ride this out as it was not a particularly large part of my portfolio as I added other issues that diluted the impact of Magellan. I suspect that a great number of smaller companies have already bitten the dust or soon shall.
If the Hastings selling question is addressed to me, I have no idea since I did not posit that to begin with. If you think Hastings had foreknowledge of events almost 6 years in the future then you sure know more than he did. 57-75 dollar a barrel oil which then went higher probably encouraged a lot of oilmen to make grandiose statements and we know how many small firms have already failed.
I certainly hope you are correct as the market has punished the share price for the lack of profit progress in the last few months. I thought they were going to show a profit last quarter as many of the earlier expenses were behind them so we shall see if shareholders can breathe a sigh of relief in the next few weeks.
Whatever maintenance costs and lease expenses that still accrued to Magellan were a cost they could not afford given the, at best, odds that development would be too far down the road. The same applies to HH1 and the rest of the Weald IMO. I cannot help but think that Magellan would like to find a buyer for the UK interests.
I sure do not see that and am getting ready to pull the trigger on some more shares but I know this is going to take a lot of patience and I expect the dividend to be cancelled before we see a recovery in price.