rj - Let's get real ... PGH didn't do anything. Investors did it to themselves. A basic trading rule is to have a trading PLAN. This includes an EXIT strategy. At what point do you feel you made a mistake on you trade? If you don't have an exit strategy you will hold and your investment will become a LARGE loss.
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.
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.
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 ~"
Here's an interesting story, which gives me an idea.
Sue Derek Evans for negligence, some particulars of which are: (a) getting rid of profitable hedges prematurely (b) being irrationally fixated on Lindbergh, and failing to develop Pengrowth's light oil resources sufficiently (which can generate quicker cash flow) (c) overpaying for properties, and then desperately selling them for pennies on the dollar months or years later (d) failing to present a coherent business plan that would reassure creditors and shareholders (e) not being an effective communicator (f) failing to sell properties at an early stage, when he clearly stated in a conference call that Pengrowth had "acceptable offers"
In turn, the board is grossly negligent in failing to fire management. Recall that Evans has been CEO since 2009, during which time the share price of Pengrowth has fallen more than 90%.
Class action lawsuit. Get a law firm interested. The objective is to generate bad publicity to force Evans out and to force the directors to resign. Wake up Schulich.
Creditor group wants to sue Sears Canada executives, board for negligence
The creditors say they will seek a motion to lift the court-ordered stay that now protects the retailer during bankruptcy proceedings
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?
With the below as a reasonable definition of Oversold and the asset values generally bandied about, a stron argument can be made PGH is and is therefore due for a rebound in a price bounce. Of course, all that being said....it would have been true for a very long while during which the price continued to tank.
What does 'Oversold' mean Oversold is a condition in which the price of an underlying asset has fallen sharply to a level below where its true value resides. This condition is usually a result of market overreaction or panic selling and is generally considered short term in nature. When an asset has been oversold, the price is expected to rebound in an event referred to as a price bounce.
BREAKING DOWN 'Oversold' An oversold asset is often considered to have a selling price that is too low in comparison to the actual value of the asset. This can be based on certain metrics including the current price-to-earnings (P/E) ratio. For example, the Dow Industrial had a P/E ratio of 19.07 on July 1, 2016.
If a particular stock had a P/E ratio below 19.07 while other stocks from the same industry were above 19.07, the first stock may be considered oversold. This belief may be strengthened if the stock also shows higher-than-average earnings or growth when compared to others in its sector.
Typically, securities oversell due to an overreaction on the part of investors regarding a piece of news or other information. Once buying or selling begins to increase, that activity spurs more of the same. Prices for the security shift according to the direction of the market movement, with buying leading to higher prices and selling resulting in lower ones.
Analyzing Oversold Assets Assets that have experienced sharp declines over a brief period of time are often deemed to be oversold. Determining the degree to which an asset is oversold is very subjective and could easily differ between investors. In a technical analysis, when the price of an asset has fallen to such a degree that an oscillator has reached the lower bound, the asset is generally considered undervalued. As the price has fallen, this may represent a buying opportunity for investors as the current lower pricing may rebound, resulting in relatively swift gains.
Identifying areas where the price of an underlying asset has been unjustifiably pushed to extremely low levels is the main goal of many technical indicators such as the relative strength index, the stochastic oscillator, the moving average convergence divergence and the money flow index. This allows investors to purchase securities at below-actual-value prices and potentially sets up for a quick return should the market correct as expected.
API reports another draw, of 3.95 million barrels of oil. For some reason, the headline was about an increase of 1.4 million barrels of gasoline, a much smaller number. Oil inventory is definitely going down. The problem is, after the Saudi Aramco IPO, Saudi has no reason in the world to keep oil prices high. Remember that, if you are thinking of buying some shares.
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 ~'
PGH has paid down 827 million against their debt. If that doesn't bring up the stock I don't know what will. GLTALs
I think there is some stealth short covering going on. Lots of 10K trades at ask price. Hope they start frenzy covering!
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.