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Waiting on bargain hunters. I added more at .105 also. We tested the .101 again today. Confirmed bottom. I think we see some buyers come in tomorrow. I think this one can get back to .20-.25 shortly with no more bad PR. I am holding my shares a few days. Volume lower today. However shorts are in control of the ask for sure.
in a boating sense, I bought on the downward spiral.
with the change of leadership often new leaders shake up the ball game. I find in this stock GST its like a locker that is a room to itself possible two rooms in a house secured in an investment. If i were a Wyoming guy where they bid over large fields in the wide open gas field. Id say their is a lot of real-estate in their business model and gas exploration. its the type when you have a gas blowout like a rainbow it can be a passing and a re-acclimatization process like the rings of an eye a needed clean out, I find in the gas fields of Wyoming and exploration processes are valuable regardless of leaders as their significant state wide infrastructure their long term like a baseline among CEO for finding future value a rock springs gas guy. if correct the downgrade was a posture for acquisition of expensive assets on the cheap I find the down grade disheartening seeing the money put into the fields regardless of where they are exploring.
addressing the 170 million to the float addition devalues the share prices in accordance on 227 million plus 170 million we are talking 400 million shares leverage against hostile takeover a renumeration or corporate printing of a potential 50 % more ownership value to the company a price point to attract investors and a long term good move as a shallow float of 200 million about can stall share-price when these companies are dependent on millions to be successful and that is what they are achieving. in my opinion only not for trading on my advice
Added .117 this morning! This one is ready to bounce from here. L2 looking good. Also volume much lighter so far in the first 15 minutes. Less selling pressure. Waiting on bargain hunters to come in. No news today, either good/bad. So that is positive. The areas we need to see and clear .12, then up to .138, and .15. Lets see what happens. I think after the back to back 50 percent sell offs, this one is ready to get back to .20 area, in the next couple of days, depending on any more good/bad PR's they put out. Best to all here. I think we have a winner here, that any one that bought at .15 or lower. Enjoy the ride.
* * $GST Video Chart 07-24-18 * *
Link to Video - click here to watch the technical chart video
I hope so. Today was brutal for sure.
so cheap here. Could be a buyout in the making for $0.30-$0.40. Load up some!
It could be that GST is about to show us how a sub penny is born. LOL
Hey brother, good to see your name pop up.
GST is on my watch list but I haven't owned it for a few years.
Apparently GST's liabilities has them circling the drain and if they don't find a way to restructure the balance sheet soon there may be no way to avoid bankruptcy.
This just came out in an 8-k;
SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Director Resignations
On July 20, 2018, Ronald D. Scott and Nathan W. Walton notified Gastar Exploration Inc. (the “Company”) of their resignations from the board of directors (the “Board”) of the Company, effective immediately. Neither Mr. Scott’s nor Mr. Walton’s resignation results from any disagreement with the Company regarding any matter related to the Company’s operations, policies or practices.
SECTION 8 – OTHER EVENTS
In May 2018, the Board appointed Jerry Schuyler, Randolph Coley and Harry Quarls to serve as the members of a committee of the Board (the “Strategy Committee”) to explore strategic alternatives for the Company. In addition, the Company has retained Kirkland & Ellis LLP, as legal advisor, and Perella Weinberg Partners L.P., as financial advisor, to advise the Company and assist in analyzing and evaluating financial, transactional, and strategic alternatives, including a potential restructuring of the Company’s balance sheet.
As disclosed in Amendment No. 4 to the Schedule 13D filed by AF V Energy I AIV B1, L.P. and certain of its affiliates (collectively, “Ares”), on July 20, 2018, Ares delivered a non-binding preliminary term sheet (the “Term Sheet”) to the Company proposing that the Company consider a sale of the Company or other potential restructuring transaction. At this time, the Company and its advisors are considering the Term Sheet and evaluating alternatives for recommendation to the Board.
https://ih.advfn.com/p.php?pid=nmona&article=77912142
*Personally I think its going to be very rough for most oil companies that don't have properties in the Permian Basin to hold on over the long haul.
Marker;
Gastar Exploration (GST)
$0.211 -0.2749 (-56.58%)
Volume: 15,522,929
WOW! I haven't thought about GST for a while but, for whatever reason, it came to mind again so I thought I'd stop by the board to see what, if anything, is going on. And what I find is the bottom dropping out. Well, I guess this is a stock that knows no middle ground. It is either getting your hopes a zoomin' high or pulling you down to the lap of poverty. LOL
I do hope and pray that you have been well.
Things are great with me.
Looks like shorts are still in control of GST. Nearly 20 million shares shorted here. Bummer. True value of this stock is $1.50+
Not sure why it didn’t move up with the good news, either way I loaded more.
I can only speculate that it is the large Short positions. Still at around 15.5% of float. Some may not think the purchase price of the WEHLU was enough. But I agree. Nice price levels here to pick up some commons. After this deal closes in February, and the dividends on the preferreds are reinstated, I believe this will rise nicely again.
Anyone know why this has tanked the last few days? All signs point to a good recovery after land sale is closed in a month. Seems like a good time to buy more common shares.
Good article on Seeking Alpha:
https://seekingalpha.com/article/4140850-gastar-exploration-profit-final-pieces-fall-place
$GST Gastar Exploration (NYSEMKT:GST) agrees to sell its interest in the West Edmund Hunton Lime Unit in Oklahoma to an unnamed buyer for $107.5M.
GST says WEHLU's daily production net to the company during Q3 totaled 2,836 boe, which comprised 46% of the company's total equivalent production for the quarter.
GST says the sale should fund its core STACK acreage development plan through 2018; one rig drilling program has been re-started, and the company expects to be able to drill and complete ~20 operated wells this year.
Looks like it paid off...did you stay in?
Short Squeeze should commence with this news!
NEWS!!! PPS $1.42+ in After Hours Trading!
Bummed there was no news about the sale before Christmas, but the PPS has risen nicely. Looks like we'll be in this holding pattern until we get some info from the company.
GST - Gastar Exploration Raised to Buy From Neutral by Seaport Global
Dow Jones
December 19, 2017 13:41 ET (18:41 GMT)
Super genius stock trader???? LOL
I've been in and out a few times too but missed the temporary gain today because I was gone most of the day.
Whenever I see a super genius stock trader on a board I figure that I'm in the right place. I've been in and out of GST several times over the last year.
That would be nice and certainly worth holding for.
Yeah. The author has quite a few followers. Could be part of why we saw the increase in volume and PPS. Still closed today at 1.05 I'm holding for the probable WHELU sale or buyout. I wouldn't be surprised if you hear about a possible buyer or sale in the next couple of weeks before Christmas.
GST - Gastar: The Case For A Strong Buy
Nov.30.17
https://seekingalpha.com/article/4128032-gastar-case-strong-buy?app=1&auth_param=1d6p7t:1d1vuf3:bf4203f469ec64232fd4488a5fadc212&uprof=44&dr=1#alt1
* * $GST Video Chart 11-30-17 * *
Link to Video - click here to watch the technical chart video
Setting up for the perfect storm here at GST. Hope everyone is paying attention. Possible WHELU sale. Lots of shorts to squeeze. Oil is up. Tax cuts might happen. Might see $2 + 1st qtr of 2018, IMO.
Good article on Gastar from SeekingAlpha:
https://seekingalpha.com/article/4127984-gastar-aftermath-operational-debacle#alt1
Jeez! I wasn't aware that there was such a strong short position
I would think commons would get maybe $2 per share, or if it's a public company purchasing, a set amount per share and probably shares of the new company. Just my opinion tho.
I would say close to what Mr. Porter said, a couple hundred million in cash.
As far as a rise in stock price? Well, we have to have a short squeeze first, since some crazy people decided to short 21 million shares, with around 20 days to cover. Seems like a huge risk, so IMO, we should have a nice ride up soon. The last few days we've seen them try to bring GST PPS down, and they have shaken out a few weak investors, but nowhere near 21 million shares, and they are running out of time..... :)
If they sell the company, do you happen to have a ballpark figure of what it would sell for? Or is it still too early to tell?
So that seems like some excellent news. If they can focus their resources on assets that better fit their strategy, we should eventually see a rise in stock price? No?
I also like this comment from the COO:
"Compared to earlier plug and perf designs, these methods have allowed us to reduce the time required to complete a well by 50% or 3 days resulting in net savings of approximately $400,000 per well."
Found this in their latest conference call:
https://finance.yahoo.com/news/edited-transcript-gst-earnings-conference-173552564.html
"In particular, we are in active discussions with several parties regarding the potential divestiture of our WEHLU asset. As you may recall, this acreage is located in Oklahoma County and produces from only the Hunton formation.
With our focus on the STACK play, the divestiture of this asset would financially support development of our core area as well as remove concerns regarding the funding of our planned activities. We're pleased with the strong interest and offers we have received on our WEHLU acreage and are optimistic that we can come to an agreement that should result in a successful divestiture by year-end."
I dont think anyone on this board sees the huge potential in GST. The SRUN deal that took place adjacent to GST land brings the acreage value up substantially. Plus oil is over $50. There are probably, IMO, alot of eyes on GST land. That is one reason why I believe they retained TPH to perform a strategic review of their properties. TPH helped facilitate the SRUN deal next door to GST. Also, a quote from a poster on the Yahoo page sums it up very well:
"The WEHU PDP I believe Porter noted previously was ~$110M. If the acreage is worth somewhere between $1K/ae-$2.5K/acre (they show pretty robust returns of 48% Upper WEHLU and 36% for Lower WEHLU at $50 bbl/$3 btu flat) for the 26.7K 100% HBP'd WEHLU acres...that would give you $136.7M-$176.8M. Porter previously noted with a fully engineered development program he viewed the WEHLU acreage as worth a couple hundred million."
It's my opinion that they will. Whelu sale would give them cash and enable them to get current again. If production figures look good early next year, they could sell the company. They are positioned in prime real estate. The area is under increased awareness due to the SRUN/AMR transaction. The STACK play could also be part of the WHELU sale. I believe an announcement will happen in the next few months.
Why are they selling the Wehlu?
If $GST finds a buyer for the Wehlu sale, we should get at least $2.20 per common share.
Shorts are trying to bring down pps. They know a short squeeze is imminent! IMO of course.
Gastar Exploration Updates Third Quarter And Full Year 2017 Production Guidance
HOUSTON, Oct. 11, 2017 /PRNewswire/ -- Gastar Exploration Inc. (NYSE MKT: GST) ("Gastar" or the "Company") today updated its guidance for third quarter and full year 2017 production.
Gastar expects to report third quarter 2017 production in the range of 6,100-6,300 barrels of oil equivalent ("Boe") per day ("Boe/d"), down from prior disclosed guidance of 6,300-6,800 Boe/d, and full year 2017 production in the range of 6,000-6,400 Boe/d, down from prior disclosed guidance of 6,200-6,800 Boe/d, with no change in liquids percentage guidance for either period. The change in production guidance is the result of operational challenges that Gastar believes have been resolved.
J. Russell Porter, Gastar's President and CEO, commented, "We continue to be pleased with recent results that our new COO and his team have produced and look forward to a more comprehensive operational update on our third quarter earnings call."
http://ir.gastar.com/releasedetail.cfm?ReleaseID=1043499
Anybody here invested in/following the GST-B / GSTprB preferreds?
Sep 26, 2017 3:30 PM ET
The Johnson Rice & Company 2017 Energy Conference
Speaker: J. Russell Porter, President and Chief Executive Officer
Listen to webcast
http://wsw.com/webcast/jr18/gst
View Presentation 5.5 MB
http://ir.gastar.com/common/download/download.cfm?companyid=GST&fileid=957853&filekey=A1CB4F02-A3E0-4A06-A2C0-49E6E06E6C89&filename=Johnson_Rice_Investor_Presentation_vF.pdf
Is it the short cover that's the story here? Possible buyout? Company's stock is doing well, looks to be back over $1 before October is done.
The sector overall is due for rebound.
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Gastar is actively developing and producing reserves in the Marcellus Shale play in the Appalachian Basin, which is one of the hottest E&P plays in the U.S. Approximately two-thirds of Gastar's total net production currently comes from our Marcellus Shale wells. Gastar's focus in the Marcellus Shale is in northern West Virginia where the Marcellus contains high-Btu-content natural gas that also yields significant quantities of condensate and high-value natural gas liquids. Currently, over a third of Gastar's production from this area is condensate and NGLs - making well economics extremely attractive. Gastar expects to have a total of 38 gross operated wells and 11 gross non-operated wells on production in the Marcellus Shale by year-end 2012. Gastar's current focus of activity in the Marcellus Shale play is in northern West Virginia. The economics of these wells is enhanced by the high-Btu content of the natural gas, which yields significant quantities of condensate and high-value natural gas liquids. Click here for larger image. Gastar holds approximately 75,500 net acres in northern West Virginia and southwestern Pennsylvania near acreage held by some of the most active participants in the play. Gastar's leases are strategically located in areas where it is believed that the Marcellus Shale is over-pressured and where operational issues such as water sources, water disposal and gas transportation have proven to be easier to manage than in other parts of the play. Gastar's contiguous acreage position enables it to drill long laterals (an average of approximately 5,000 feet in length), and perform pad drilling operations and conduct large multi-stage fracture stimulations that improve well performance and economics. Acreage in Marshall and Wetzel counties in West Virginia is the current focus of Gastar's activities and capital budget, with over 100 additional well locations identified for near-term drilling. Gastar is drilling multiple Marcellus Shale horizontal wells in northern West Virginia from drilling pads similar to those shown above. Gastar is developing the West Virginia acreage in partnership with Atinum Partners of South Korea, a leading private investment firm. Gastar completed a joint venture with Atinum in November 2010 which covers 42,200 net joint venture acres (21,100 net acres to Gastar) in West Virginia and Pennsylvania. Outside the Atinum partnership, Gastar also holds 54,400 net acres primarily in Preston, Tucker and Pendleton counties in West Virginia in a dry-gas area referred to as our Marcellus East acreage. Due to current low natural gas prices, Gastar is deferring development of the Marcellus East acreage until prices improve. |
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East Texas
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Gastar has acquired an initial lease position in a new oil play located in the Mid-Continent region of the United States with the objective of developing a program focused on low-cost, repeatable horizontal development of conventional oil-bearing formations. Along with a partner, we currently hold approximately 36,700 net leasehold acres (18,350 net acres to Gastar) in three adjoining areas of mutual interest. The initial plan is to drill and complete three gross (1.5 net) horizontal wells by early 2013 to test the potential of the area. Gastar will pay 62.5% of the first four wells' gross drilling and completion costs and 56.25% of the next four wells' gross drilling and completion costs to earn a 50% working interest. For all additional wells beyond the first eight in a prospect area, we are responsible for paying only the drilling and completion costs associated with our 50% working interest (approximate net revenue interest of 39%). We are responsible for all leasing and permitting activities. Gastar's first non-operated well in the Mid-Continent began flow-back operations on October 5, 2012. Based on a recent 30 day average, the well is producing at a stabilized daily gross rate of approximately 84 barrels of oil, 428 barrels of completion fluids and 94 Mcf of 1,496 Btu natural gas, yielding approximately 105 barrels of oil equivalent per day after processing. To date, approximately 19% of the completion fluids from the 13-stage fracture stimulation have been recovered. Drilling and completion costs on the well to date are approximately $4.8 gross ($3.0 net) million. The drilling of the second of the three planned wells has commenced. This well has reached its vertical depth of approximately 7,900 feet, and intermediate casing has been set. Drilling of the approximately 4,400 foot horizontal lateral is in progress (as of mid-December 2012), and the well is anticipated to be on production by late January 2013. Drilling and completion costs of this well are estimated to be $4.3 gross ($2.7 net) million. The third Mid-Continent well is scheduled to commence drilling early January 2013. |
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