Let get real.......... PGH lured investors in for years with their high paying dividend campaign. Then used shareholder money to fund their projects.. And that even failed leaving investors with a worthless company. Game over.
PGH has erased about $1.1 billion of debt. They have relaxed the borrowing covenants and are free of debt or covenant worries for the next two years while the oil recoveries continue. They have lowered the break even cost of the BOEs. The stock price should go up in the long run, matching their book value price eventually. Sooner than one might think.
I have sent this to a few folks in the US today...would like any of ya'll's thoughts?
Dynamic Responsible Infrastructure Investment Program (DRIIP) I know you are well aware of the current state of America's infrastructure, deferred maintenance accrued, capital necessary to make an impact, and the effect on the American worker, communities, and businesses in implementing these projects. Imagine a single solution that is fiscally responsible, fosters American ingenuity, helps senior citizens, protects American investment, helps developing nations, and stabilizes much of the world economy. The solution is a dynamic tax on the import of oil from origins outside of North America. The rate would be set at $60/Barrel less the sales price on sales below $57, 3% from $57 to $68, and 2% from $68 to $80. For example, a $47.50 price would be a 12.5% tax, a $54 barrel would be a 6% tax, etc. A barrel of oil produces 20 gallons of gasoline. A $5 tax on a $50 barrel (10%) would have a $.25/gallon impact on the price of gas, however only 34% of current inputs originate outside of North America, resulting in only a $.09 direct impact. The price for domestic oil would have to increase proportionally for the full tax to be implemented, which in turn creates income and jobs that would create further benefit. In getting this out of the way, the transfer of tax directly to American infrastructure will help the wages and communities of the people it most affects. The 6M barrels per day currently imported from outside origins, at $50/barrel would result in $30M in direct tax, plus $10M in local taxes, will generate $15B/year towards our goal. It is highly likely that following an Aramco IPO, the current OPEC cuts will be forgotten due to middle eastern rivalries, and the American oil patch, and related national security, will be crushed. Should this occur under DRIIP, the increased revenue will at least provide blue collar jobs to ease that burden. At $40/barrel, the revenues increase to $19B annually and keep American oil competitive at $48/barrel due to the 20% tax. Why exempt North American origins? The increased profitability and competitive advantage for US producers will result in American income increases from investment gains/dividends for older Americans, American jobs, encourage ingenuity, and add stability. The Mexican economy can not handle a tax, it would have no impact, should be nurtured for future auto sales, and NAFTA. While Canada also involves a trading partner and NAFTA, light oil also requires a heavy/sulfur component for refining that we can get from West Canadian Select. The alternatives are Venezuela or Saudi. Environmentalists should be for anything that increases the price of gas, and they benefit from the infrastructure improvement.
If it's win/win for us...who is negatively affected? If OPEC/Russia is responsible, there is little to no impact on the world scene. It is doubtful that our Secretary of State would not fight a measure that will be beneficial to both poor countries and Exxon shareholders. Prices will stabilize at $60/barrel, most middle eastern countries, as well as Russia, can balance budgets. If Iran, Saudi, and Russia turn the taps back on, its at their own peril, and at least the infrastructure funding is in place. If we fail to put this measure in place, there is no safety net.
PGH is down 17% since Susan posted this gem less than 2 weeks ago ...
Anonymous 10 days ago $PGH conversation "There is NO need or reason to sell PGH outright. If they have the assets (reserves) everyone says they have, there is no reason to sell the company. Besides, top management will be out of a job and they won't receive their juicy salaries and other compensation. ALL they have to do is to meet their debt obligations. If they do that, they stay in business. Their immediate task is to get their stock price up over $1.00 GLTU ~"
short of $65 oil, Does anyone see a path to profit for this company? Or does 9 billion of reserves simply mean Job security for Evans and the rest for 50 years?
Actually starting to think a NYSE delisting will be a good thing. The algo machines that have run this price down will be turned off by many hedge funds as they are forced to evacuate and cover shorts due to self-imposed rules.
I owned a silver company SVM listed the same way on Canadian exchange and here in USA and they delisted 1-2 years ago and it was a good thing. The computer algo games stopped shortly after, the stock bottomed at pennies and rose several hundred % and they relisted when the price rose enough. Painless. (SVM)
Remember when this garbage was 5.00 with a 7% dividend Lesson learned...
PGH is now down 15% in a little over a week since we received this nugget of brilliant assessment from the WORLDS GREATEST TRADER SUSAN - Worlds Greatest Trader 8 days ago $PGH conversation "There is NO need or reason to sell PGH outright. If they have the assets (reserves) everyone says they have, there is no reason to sell the company. Besides, top management will be out of a job and they won't receive their juicy salaries and other compensation. ALL they have to do is to meet their debt obligations. If they do that, they stay in business. Their immediate task is to get their stock price up over $1.00 GLTU ~'
Electric Vehicles No Threat To Oil Prices Anytime Soon | OilPrice.com
Despite popular belief, electric cars are still not moving the needle on oil demand as their sales still don’t make up a large percentage of total vehicle sales
That may be very well be the worst conf. call ever done. I have been a long term share holder and my confidednce level in management is at a all time low. I do not recall shareholders not being able to ask a question (could be wrong) but since there now appears to be less than two analysts following the company they might want to consider allowing the company owners to voice their concerns rather than a hypothetical question from the last analyst. Time for the shareholders to demand a management team that understands how dire the company's situation is and discuss future plans and goals for a turn around. Continuing to do little else but sell assets will likely end in bankruptcy. The company should consider selling itself while they have sellable assets or take private. if not, it is very likely the current US stockholders should plan on their stock being listed on the pink sheets prior to year end. Certainly a long way away from when management said how important the shareholders were and held the dividend as a high priority.
Anyone care to speculate on what share price of Pengrowth will finally prompt the dullards who advise SS to poke him out of his stupor at the nursing home and fire Evans? I say one it falls below 50 cents Canadian or 40 cents US, SS will choke on his oatmeal and finally take action.
Hillary is a drunken, drug addict, who collected bribes from world leaders to sell our country out. She also let Chelsea use 3 million in foundation money to pay for her wedding.
Will this stock go down all the way to 40 cent?
IS THIS WHAT AMERICA HAS TO LOOK FORWARD TO? DISGUSTING!"They don't call it a hate group for nothing: The chief of a North Carolina #$%$ group says he's glad that 32-year-old Heather Heyer was killed when a car plowed into counter-protesters at a white supremacist rally in Charlottesville, Va."I'm sorta glad that them people got hit and I'm glad that girl died," Justin Moore, "grand dragon" for the Loyal White Knights of the #$%$, tells WBTV."They were a bunch of communists out there protesting against somebody's freedom of speech, so it doesn't bother me that they got hurt at all." Moore and other members of his group were at the rally Saturday, and he predicts that there "will be more violence like this in the future to come." http://start.att.net/news/read/article/newser-nc_kkk_leader_glad_protester_died-rnewsernor
NC KKK Leader 'Glad Protester Died' - - att.net
They don't call it a hate group for nothing: The chief of a North Carolina Ku Klux Klan group says he's glad that 32-year-old Heather Heyer was killed when a car plowed into counter-protesters at a white supremacist rally in Charlottesville, Va. "I'm
"On May 16, 2017, the Corporation received a non-compliance notice from the NYSE as a result of the 30 day average closing price of its shares falling below US $1.00. The Board of Directors of the Corporation is currently not considering a share consolidation proposal to shareholders to regain compliance. If the Corporation's share price on the NYSE does not rise above US $1.00 by November 16, 2017 it expects to receive a delisting notice from the NYSE. Such notice will not impact the Corporation's TSX listing."
Since PGH is in for major changes how about getting rid of management who brought us here to someone new who can get us out of this mess. No way Evans should be let to continue. He's a proven failure and will take this company down for the count if you let him stay.
Susan claims to be the greatest trader in the world, but her goal in life is to be just like ME ... Shaggy 3 days ago $PGH conversation "Oh man ..."
SUSAN - Worlds Greatest Trader 12 hours ago $PCI conversation "@reporich OH MAN ..."
SUSAN - Worlds Greatest Trader 12 hours ago $MT conversation "OH MAN ..."
SUSAN - Worlds Greatest Trader 12 hours ago $BX conversation "OH MAN ..."
SUSAN - Worlds Greatest Trader yesterday "@Frank Oh man ..."
There are MANY MORE, all posted AFTER my use of the term ... keep trying fishy wannabe