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Good day for all longs. Congrats!!!
PWE(Oil stock)is UPGRADED to OUTPERFORM right after it Announces $1.1 Billion In Asset Sales on 6/10/16
PWE(Oil stock)= Strong BUY.
PWE(Oil stock) Announces $1.1 Billion In Asset Sales, Including The Sale Of Its Saskatchewan Assets For $975 Million
http://ih.advfn.com/p.php?pid=nmona&article=71709974
A nice piece on the yahoo board.
From stock house..good analysis and pretty darn close...
Per the call, PWE will improve by $3 BOE on operating and $5 per BOE on financing versus last qtr, a combined $12 per BOE versus guidance and a combined $18 per BOE versus 2015....(financing, operating, G&A, Royalties, and transportation)...this translates to crazy low BE...
Basically, going forward, all in cost (royalties, transportation, operating, G&A and finance will be $16-$17 per BOE or less...so the poster is right..even at $25 dollar oil, PWE is making $7-9 netback's...
(The poster cited below has $9 dollars in savings per BOE but the actual is $5 per BOE..At 50 WTI, PWE will have $34 in netback's going forward...$60WTI, PWE as $44 in netback's going forward...)..still think this is $1.3 stock?
"Alternative method to estimate revised netbacks
So, we have 63,000 boepd as the original guidance for 2016.
Average netbacks were estimated to be $17 to $18 per boe
Of this, 20,000 boepd had zero or negative netbacks.
By iteration, it can be calculated that removing these 20,000 boepd, average netbacks for the remaining 43,000 boepd were $27 per boe.
To this, you can add the $9 per boepd gained from interest rate reductions.
By this method, netbacks for the residual retained production of 30,000 boepd for 2016 would be above $30 per boe.
Conclusion
PWT will dispose of at least 20,000 boepd of zero netback production and also gain $9 per boe in reduced interest costs due to debt reduction.
THAT IS......AND SUPPPORTING MANAGEMENTS ASSERTION.....PWT WILL BE A VERY LOW COST PRODUCER CAPABLE OF BEING PROFITABLE AT OIL PRICE OF WTI $25 PER BOE AND PERHAPS LOWER Less
this should rip once institutions pile in. and that should be any day now.
PWE(Oil stock)= Strong BUY.
Go PWE $$$$$$$$$$$$$
Link: PWE is Upgraded to OUTPERFORM on 6/13/16.
https://finance.yahoo.com/q/ud?s=PWE
PWE(Oil stock)= Strong BUY.
Go PWE $$$$$$$$$$$$$
Link:GOOD NEWS,PWE Announces $1.1 Billion In Asset Sales, Including The Sale Of Its Saskatchewan Assets For $975 Million
http://ih.advfn.com/p.php?pid=nmona&article=71709974
The craziness Friday was the result of the news being released late in the AH session when traders had already 'packed their bags' for the weekend. The only shares largely available were the GTC shares...thus the Friday move was very exaggerated.that said, PWE is a good portfolio stock after the work they've done to manage their debt. Buy and hold.
It will trade sideways until the deal is closed , many got out today jumping the gun , new trading range will emerge, no position.
What are your thoughts here it was going crazy after hours Friday but I waited for a pull back.
Penn West Raised to Outperform From Underperform by Raymond James >PWE *Monday 06/13/2016 10:34 AM ET - Dow Jones News
Agreed. . Low short volume, higher OS, and overall market sentiment regarding commodities. .. is not going to help to create buying pressure that we would like to see... however yes, I agree that it is a very safe oil company that is positioning themselves to survive and do well so recent good news should be definitely enough to start nice uptrend here. I'm not in.. yet.. I'll be watching for a good entry that I like.
nice dd, thanks for sharing:)
Nice DD Ania. Wish short interest was bigger and float was smaller...makes it hard to call en entry point as a result. What I can say, as you pointed out, this has now become one of the safest plays in the sector relative to pps. IMO, it's a great 'portfolio stock'. Thinking any shares around a buck-and-a-half might represent a good entry with the option to average down if such an opportunity presents itself.
Looking good this AM...that's for sure!
$PWE
Ok, so I just looked quickly through news and balance sheet.. first of all I think it is safe to say that company definitely is NOT going bk. Management has made all necessary steps to cut down drastically on debt by selling assets and I see also huge improvement in operation costs and other expenses. ..
Even though they sold a chunk of assets, I see they should still have over $ 4B in assets AND debt down to only $600mln per that last PR ..
That's huge.. Loss was already cut down significantly on last Q showing only $100mln loss.. Didn't I just read that by paying off chunk of debt they will save like $100mln on interest? Anyway.. revenue obviously smaller than previously but still pretty good imo.. and most importantly they are on a good track to be profitable. .
Am I right? What else do you know?
OS 500M.. TD Ameritrade shows 20% held by institutions. .. hmm.. I have to think what I would like as en entry here. .
I see CC tomorrow?
Wondering the same here!? I think I'm going to get out
at the open, and just be satisfied with the big pop:)!!
Wow, thanks Wolf for bring it up to me.. I stopped really watching oil ticks after series of Qs.. so what exactly is happening here ? What is your guess on where pps is heading? AH is already way up.. pre market could be equally crazy. .
What's good entry/exit here and why?
Thanks!
Kinda makes me glad I took the chance....
It's 'game on'!!
$PWE
Thanks, I'm now extremely gun shy thanks to sdocq. Everything was moving along very well for everyone. The restructure was not a shock but not including the shareholders was. Their was a statment in their filing that says all shares will be cancelled at the end of BK.
Earnings beat...and that was before oil bottomed out. Should provide some support during negotiations with creditors. We'll see.
Thanks for the update, I got caught with sdoc, thinking they would restructure and include their shareholders. Their history and financials looked ok because they had enough cash to ride out their debt for awhile plus a lot of it was not due for a few years. Add in that oil is up over 70%.. He would have been a hero if he rode it out. GLTY
Not yet, but look at the financials and see if they don't look close.
Makes me scared to buy more.
Did this company file BK?
I'll buy any company that will make me money!!!
Why you like to buy BK companies?
Where is the strength?
There's an 'opportunity' here for folks. Hope they see it!
Looking excellent here bro!!
$PWE
* * $PWE Video Chart 05-16-16 * *
Link to Video - click here to watch the technical chart video
PWE slow climb continuing..
maybe to a buck and a quarter
or even near a buck fifty ..
some indies > http://stockcharts.com/h-sc/ui?s=PWE&p=D&b=5&g=0&id=p26894623754
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I rode PWE south from $2 in Feb of 15; finally averaged down w new 3X position @ .73 early last month. Fortunate to cash out on 3/7 @ 1.25 for a nice (though hard fought) profit!
IMO this stock has legs to run so I established a new position on Thursday's low after earnings. I think it can move thru $1.30 and see $1.50 w the current catalysts and cost cutting measures. Downside is oil's $ volatility but I'd see that as another buying opportunity...
I covered at .90 like an idiot
not if you got in 3 weeks ago!!! BOOOYA!!!
Took position today. Purely technical play for me. GL whomever is left on this board lol.
PWE vs REN(It's oil industry comparison)
1)Both PWE, REN are oil and gas companies.
2)PWE sold one(1) of its asset and it has been up 300%
3)REN sold one(1) of its asset for $55ML on 10/8.
http://finance.yahoo.com/news/resolute-energy-corporation-announces-closing-110000449.html
The above is oil and gas industry comparison.
The Opening Gap is filled.
200 day MA within striking range. Blow thru that and sky's the limit...
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$PWE : NYSE
Penn West Energy Trust
425-First Street SW
Suite 2200
Calgary, AB T2P 3L8
Canada - Map
Phone: 403-777-2500
Fax: 403-777-2601
Web Site: http://www.pennwest.com
BUSINESS SUMMARY
Penn West Energy Trust, an open-ended, unincorporated investment trust, through its subsidiary, Penn West Petroleum, Ltd., engages in the
exploration, development, and production of oil and natural gas in western Canada. The company has an asset base in the Western Canada
sedimentary basin, which is divided into three core areas, ranging from southern Saskatchewan to regions bordering the Northwest Territories.
As of December 31, 2005, its total proved plus probable reserves were 360 million barrels of oil equivalent. Penn West Energy Trust is headquartered in Calgary, Canada.
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