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Dude you see the price of oil?
Penny..When are we going to see EPEGQ ..With a PR..Coming out of Bankruptcy.
Personally I'd feel more comfortable at this point owning shares rather than not owning shares. If I can free some funds will pick up at least 50k more.
Think of this, the deal fell through because the coronavirus has absolutely stalled the economy and the banks backed out. Perhaps, now with the Stimulus package approved, the company can look to the government for help based on the fact a deal was approved by the courts and only fell through because the fear of the virus.
Just my opinion, but I'm buying just in case.
I'll definitely check it out. Looks like back to square one here. Bankruptcy deal fell apart so look like starting from scratch. Still holding 12k shares here only because only 190k took on my .009 sell order. If I ever get free funds I might possibly buy a few more as a lotto.
Thanks and same to yourself, so many of these beaten down stocks are such a long shot but another that I got in you may want to look at, it's JNUG, it's a highly leveraged ETF. Again I bought options a year out, I believe like JAN 21. I bought $8 dollar calls that are over the price I paid and climbing. JNUG was around $105 maybe 5 weeks ago when they started to drop the prices and it's now around $7. I got in when it was just over $5 and fully expect it to get back to at least $50 in the near future, worth looking at!
EPEGQ $$$ GOING MEGA-HUGE !!!..WAS TRADING AT $35.00+, COULD SEE $5.00+ VERY EASY !!!
ARCA only bidding, always Top Bid
IF the stimulus bill saves EP Energy, this will be huge. Shares would be safe.
The company owns proved reserves of around 430 million barrels of oil equivalent, about 70% of which is oil and NGLs (natural gas liquids). Altogether, it has rights on 452,000 net acres in the US.
Banks pulled out, I bet the government saves EP with the Stimulus when approved. Lots at stake here.
Hope you make a bundle in CHK and the 2021 options. Seems like the acquisition for several billion would give them a good deal of financial cushion and room for the PPS to grow back to a dollar and hopefully more. I'm all in CORG now. Everything is a gamble but think the chances are really good for this to see a dollar as well with the 13.6 million OS along with the current demand for their industry. I'll be checking in on this board occasionally in case of any new developments and think we both have a good chance of making some great returns in the near future! Best of luck and talk later.
I agree, this was worth a gamble which is what it was! I lost maybe 1k, not a big deal. I buy options every day and that's where I make the cash, however I still take a small stake in stocks now and then. Recently I purchased some CHK stock and some 2021 options. Again a small price to pay for a potential nice payday. Most analyst have them going down the tubes but at the same time the stock seems to show support around .17-19 range. It wouldn't take much for it jump back to a dollar and that's when those 2021 options would pay off. I never followed CHK but apparently they made a huge acquisition a year or two ago for several billion, that seems to be what got them where they are. I would assume they have plenty of assets they could sell if they really ran into a cash crunch, who knows, it's all a gamble!
Good luck to yourself and have a great day!
I only got around .009 for my 202,000 shares but at least there was more bid support. This was a huge lotto play and with a different outcome could have seen dollars. I agree there's still a small chance but more likely at this point shares will only be worth a fraction of .01. I lost quite a bit here but think I have a good chance to make it all back and a lot more with the company I'm in now. Could see $1 + which will bring my account back to life. Still following this board just in case but in the meantime let's make some money.
Did offload my remaining 25k shares yesterday afternoon for a price around .007, better than nothing. I'm actually quite surprised that there has been a bid since the last court hearing, pretty much over with! Still a slim chance that something positive could happen and if so I'll just buy back in if there's money to be made!
Looks as though everyone has given up hope on EP, can't blame them! With oil prices crashing the entire energy sector is under a lot of stress, many companies will be closing their doors, time to take what you can get or invest for the future! I will more than likely be selling the remaining shares that I have later in the day, that .007 bid will be going to 0 in the near future and you won't get anything for your shares!
I think it was a good idea to hold on to some shares. Anything can happen here. I'm trying to catch a runner and make some back. I'll have my finger on the trigger here if there is a change in going private or any news that will benefit shareholders.
Preserve cash always, even if at a loss! I sold half of my holdings which is pretty close to break even, I think, haven't looked! Will continue to hold my remaining shares for the next week or two depending on what develops. Appreciate you sharing what you did, I've done the same and will continue to do so!
Sold out at a loss but volume was there to easily sell. Unfortunately would like to have sold way higher. Will continue to monitor board for any new developments but even more of a longshot now than was before with confirmation of going private. Anything can still happen but looks like shareholders will end up with zero shares.
Someone doesn't seem to mind paying .009/sh, they're getting bought up as fast as they're being put up for sale, probably Apollo!
Pretty quiet around here, optimism seems to be dwindling with the PR's stating that they intend to take the company private at the end of this! Pretty sure there will be some lawsuits trying to block the current agreement, JPM & Fidelity management none to happy with current agreement.
My take is lighten up a bit, put a little cash in the coffers and hang on in the event something changes which wouldn't surprise me!
They talk about what happens to commons at the restructuring link
https://epenergyrestructuring.com/wp-content/uploads/2019/10/EPEG-Investor-FAQ.pdf
Got 200,000 for sale at .024 if anyone wants them. Maybe shareholders will get something decent out of this. Looks like company will be in great shape after emerging.
If my calculation is right that would make share value slightly less than .002 with 255 mil OS plus zero stake in highly profitable newly private company. Kick in the ass to common shareholders if this turns out to be the case. I'd love to be wrong! Needed a few shots of Wild Turkey after reading this PR. Hopefully there's good news hidden deep somewhere in there that I missed lol.
No mention of common shareholders in PR so probly ain't good lol. See ya'll at the exit door Monday morning.
Looks like bad news for shareholders. Most likely will end up with only small percentage of original investment or maybe nothing at all. Usually after hours PR on a Friday isn't a good thing.
EP Energy Corporation Restructuring Plan Confirmed by Court
NEWS PROVIDED BY
EP Energy Corporation
Mar 06, 2020, 17:41 ET
Margin calls anyone, talk about taking all the newest inexperienced investors money! I see all these new trading platforms advertising trading options and offering margin accts. No doubt they just took most if not all of that groups money in the last 2 weeks! Just prior to the markets tanking I saw a PR that stated there was the highest amount of call options bought, ever recorded! I thought, hmm, strange indeed but with all the new trading platforms that people can run on their phones and no doubt, most of them are probably trading while at work thinking they know what they're doing, maybe not that strange after all, lol!
Oh well, most people learn from a good a$$ kicking and are better off in the long run because of that.
Best case is they don't go private and our common shares retain some significant value. With their strong earnings we should be in great shape if that happens. Huge longshot lotto play with gigantic potential if everything pans out. Have to sit and wait for now.
The great scam is in play, the markets today are such a scam, not that they haven't been in the past. Maybe just ironic, maybe coincidence but around 2 weeks ago just before the corona virus scare I saw a news clip that there were an all time high in option contracts bought, don't doubt it with all the new trading platforms like Robin Hood, trade station, so fi trading and on and on promoting option trading! Next thing you know they're dropping the markets like a rock and if you know anything about trading options is that they assign a premium to each contract unless your deep in the money, with the big moves they've increased the premium to the point where it's virtually impossible to make any money unless you buy something deep in the money and even then they are commanding such a huge premium it's ridiculous! I watched several call contracts this morning lose value even though there was a $30+ move in the stock!
Any and all inexperienced option traders have probably lost a ton of cash in the past week and a half!
So is just coincidence that the virus comes along at the same time that there is an all time high in option contracts bought. If you check there are over 55,000 deaths each year from the common flu and they're making a big deal about 3,000 deaths, mostly elderly that have compromised immune systems!
I call it the big scam, just my 2 cents!!
Took a quick peek, you see the revenues for Jan 2020, they more than doubled each of the 3 previous months, whats up with that? They need to keep that up!
8K Out MOR Report https://www.otcmarkets.com/filing/html?id=13969482&guid=ertCUKokSodAdth
Doc 974 02/28/20 Case 19-35654 JAN 2020
Like a 10Q Jan 2020 Your browser does not support drag'n'drop file uploads.Please use the fallback form below to upload your files like in the olden days.
You pretty much hit the nail on the head, I will add this, EP Energy is a real company not some sham run out of someones home with a drop box in front of a seven eleven for a mailing address!
Guess we find out soon whether our common shares are fully retained and if we have voting rights or maybe we'll just get a small percentage of non converted shares or possibly nothing at all. If our shares do carry over shareholders could see some huge increases in value, given the potential billion dollar value of the post-bankruptcy company. Definitely a long shot lotto play but hopefully some news in the next few days confirming the plans the company intends to take. Heard Feb. 28 was confirmation day and March 19 is emergence day. Need a win-win for common shareholders. I know after the last few trading sessions my account could sure use a nice boost. GLTA.
When crunching numbers the belief is that this company will have billions in assets and 800 million annual revenues after the liquidation of assets to pay off companies dept? Is that correct in my understanding anyone ?
Best thing about this stock is this ain't no drunkard hill Billy crap this is all being handled by a court of law.
When do they drop the Q? And when is the split to new stock happening? Not 2020 fall I hope. Could they wait until after asset liquidations? Many unknowns my first Q stock.
I think after the split my .10% should be in multi dollars. Long for future dividens? Hydrogen fuel play into future for me????
Someone picking up a few shares before the close, pretty good move, news might be out pre bell and it'll be to late to pick up cheap shares! On the other hand, they could be even cheaper when the market opens tomorrow, I'll take my chances that the share price will be going onward and upward!
https://cases.primeclerk.com/EPEnergy/Home-DocketInfo
link to follow the court case.
Red light green light indicating a strong buy on the markets, EPEGQ is going to be a fun ride baby! Has anyone ever ridden one of those mechanical bulls, oh ya, that's what it's going to be like!
I guess we know on March 19 or maybe even before if they're going to transfer or wipe out the commons. Somewhere in between maybe we don't make too much. Maybe there's hope here.
Waiting on the courts approval to emerge and the fine print to come forward. It's a risk vs reward kinda play...
Not sure what's going on with this ticker. Looks like I took a gamble that could either pay off big or we only recover a small percentage in dollar value for our shares. Looked good at .0188 after hitting .029. Guess I jumped in too fast.
When is the vote? What is supposed to be determined on confirmation day? Saw 2 posts on the board one saying it's Feb. 26 and one saying 28th. Bought some at close yesterday but either looks like could be big gain if they don't wipe out the commons or big loss if they do. Big lotto play and maybe big risk me buying in. .0188s looked good after announcement yesterday with JP Morgan.
Lol. Your name says it all. Bye bye
...the repo crisis shocked Wall Street when on Sept 16, 2019 it suddenly became apparent that despite $1.3 trillion in "excess" deposits, there was not enough liquidity in the system. A month later we were the first to piece together the puzzle, which confirmed that it was JPMorgan's drain of over $100 billion in repo and money market liquidity that was the precipitating factor for the repo market collapse.....
HISTORICAL CORRELATION ? thanks nice read. Loving that BIG Money!!!
GLTA...
After Breaking The Repo Market, JPMorgan Wants To Start Using The Fed's Discount Window Again
https://www.zerohedge.com/markets/after-breaking-repo-market-jpmorgan-wants-start-using-feds-discount-window-again?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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