Dear Mr. Radical Reptilecan Anonymous: I am neither a righy nor a lefty ... more of a moderate. Keep this in mind when you make your derogatory and offensive posts.
IF and it is a big IF ... John Kasish was the candidate running for president, I WOULD HAVE VOTED FOR HIM. All I know is that one fourth of the American voters have been DUPED.
Does anybody know exactly what covenant issues we are dealing with? Is it a multiple of cash flow to debt etc?
Won Hung Lo
SIX months have passed, and the "greatest negotiator" has NOT accomplished anything! Actually, nothing has been accomplished in the past 8.5 years! Typical Reptilecan performance!
Now why is this $2 stock, still masquerading as a .73 stock?
PGH.... The stock was terrible years ago @ 5.00 bucks
If olds Garrington sale closes on time Aug 1st, Could be our first best chance for a break. Just 2 weeks from now. Then 2nd quarter report a few days later.
any body interested in a Class action suit to get rid of those bums running the company
My Updated Oil Price Forecast Looks Great for My Favorite Energy Play By Dr. Kent Moors, Global Energy Strategist, Money Morning
After flirting with "official" bear market territory, a sharper-than-expected drop in U.S. crude stockpiles has sent oil higher once more.
But inventories aren't necessarily the main force driving oil prices right now. Rather, pure and simple greed is. Market manipulation, in other words, of the type we've seen (and profitably countered) before.
Since July 4, we've been experiencing the latest bout of these manipulations.
The price gyrations in the oil market have brought out the latest round of doomsayers and speculators.
Won Hung Lo
RAMESH - Please explain ... " I am long 165000 shares. I am having fun taking paper losses ". How can one be "having fun taking paper losses"? Doesn't paper losses reduce you equity?
Steve, not as many steves as u think. I used the name stevie nicks when I created this account, just to see if anyone would notice and get a laugh out of it. In the past, some ppl have impostered my names, to try to tarnish my reputation as an informed investor. So whats up with Seymore ? Is he legally maxed out ? You'd think at 74 cents, he'd gobble up a boatload of shares.
14 million shares are short no matter how hard the stupid shorties try they are going to fail miserably. Those who buy now can expect great returns. I am long 165000 shares. I am having fun taking paper losses but the shorts will not have that much fun when they lose real money.
I like the 18m forfeited deposit on the failed deal. Obviously when the prospective buyer attempts to purchase they fully intend to close. That's a 10% ROI...now if that can be done twice in 1 year....that would equal 20% ROI for PGH. It's like selling a "covered call".
The 18m pays 300m worth of notes at 6% interest rate for 1 year....maybe this is PGH's new method of "hedging"
As far as the Life Insurance Co. I'm sure they will comply because they wouldn't obligate themselves if they couldn't perform or their shareholder's would start a mutiny. IMO
The Old field they are selling for less when they bought....but figuring the ROI they made while holding this asset it may be a decent price due to when they acquired it oil was higher.....possibly a breakeven scenario.
If the closed Swan Hills deal and the Old's deal closes....and the money is used to pay down debt this should be enough to get new debt without heavy restrictive covenants so it may allow a partnership in the 2 "prized" assets our beloved company has left.
There is always the 4% GORR that could be sold again for a 300m+ this time instead of the 250m like last time to a Prairie Sky or the like? Do you think Prairie Sky would have paid 250m for 4% for Lindbergh if it wasn't worth at least 12X the 250m (12 X 4% = 48%)?
What does everyone think?
I guess yesterday was our 1 day up for the month and of course lose it all the next day.
I would say this company is in a death spiral, except for the fact that its peers in the industry are also not responding favorably to an uptick in oil prices. Companies that I follow, including Cenovus and Baytex, have also performed miserably and are up very little with WTI now above $46. Pengrowth is experiencing almost no volume: there are no buyers. There will be no buyers until SS snaps out of his stupor and demands that the entire Pengrowth board, including Evans, be replaced, and that Evans be fired as CEO.
Won Hung Lo
OFF TOPIC - The largest group of Medicaid beneficiaries are 33 MILLION CHILDREN, and don't forget about the elderly. Reptilecans are heartless and don't belong to the human race. I am absolutely certain that they have children and elderly parents ... they do have parents, right?
PGH NEEDS TO GET REAL!!!!!! Derrick Evans needs to come out fighting and bring back creditbilty with realstic guidance with ffo. He also has to be transparent about cutting operating expenses, growth , where we stand with covenants etc. There vague approach and non answers is not going to work anymore and if he cannot do this he needs to step aside. Right now the company has 185 million from one Swan Hill Sale, 18 Million from Deposit on breach from Swan Hill sale two and has comong in 300 Million from Garrnton sale to close august 1st. Thats a total of 503 million. The 2018 dedt is 372 million so he has some wiggle room and maybe will re-sell the Swan Hill again . Plus from his guidance should have ffo of about 40 million from the 2nd quarter. He needs to come out NOW not wait for the re[orting date to put at rest what the company needs to and show the profit or loss in his new guidance by category. He needs to take offense as the creditbility of not only himself but the compamies fututre is at stake. He needs to show he can lead.
With all the asset sales, and balance sheet much improved. Yet the share price can get no traction even on a day when oil is up. You would think it might dawn on Evans that, hey maybe it's me.
Won Hung Lo
Crude oil is "looking TIRED" ... my downside forecast is still $35-37 ... Good Luck and trade according to your convictions!
08:17 AM EDT, 07/11/2017 (MT Newswires) -- Pengrowth Energy (PGF.TO) said Tuesday that it has entered into an agreement to sell its Olds/Garrington area assets in Central Alberta to a private company owned by a large Canadian life insurance company for cash consideration of $300 million.
This company is dead, But Evans job is alive, That's all that matters. What! were you expecting a return on your investment?