Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Without a doubt if Romney defeats Obummer and off-shore drilling is resumed.
Could not resist this at $1.49. Picked up 7,500!
Coal is not going away and natural gas is going up. May never see $40 again, but when the cycle reverses, again, ANR becomes profitable and we'll see $30 with no problem.
Barrack Hussein Obummer became president, that's what happend. "Electricity rates will necessarily sky-rocket." If Romney is elected, we have a winner. If not, it doesn't matter, the whole country is doomed.
Yes, I made a bad trade, again.
For the last six weeks ANR is down 5 or 6 days in a row, then makes it all back in one day. Then it happens again. I just hope this pattern continues. I'll sell at $7 and short it like wall street does and make some green as it's going back down. Only 1 problem. The pattern only works until you figure it out; then they do something different!
I'll look for an entry with AUNFF back under $1.
I keep thinking it's at the bottom; that's what I thought about USSIF too and finally got out after losing $65k. My brother is still holding on and thinks he may get out unscathed if it can get back to $3. He owns nearly as much as I did.
I currently own 30,000 ANR at avg $6.70. I'll be wealthy if Obummer gets defeated. I'm back in the poor house if he wins. I've never seen a president any worse for business than him.
Sold at $0.85 and bought ANR at $6.40. It's now at $6.09.
Only bought 7500. Wished I'd multiplied that by 10!
And...?
No, I haven't been following closely. DrBill, who posts here on occasion, recommended AUNFF after some thorough researching. After seeing market cap fall by 20% in the last few days combined with rising silver prices, I thought it might be worth taking a small position.
Dan, what's causing the shakeout today? Down almost 9%.
Yes, I agree on HL's management of the bid. They might have been able to get it at $2.00 and HL's SP would have gone up very rapidly as people realized what they had. Add the Lucky Friday production back in next year and they will be a huge producer! They let this one get away.
And yes, I lost plenty on USSIF but have made nearly twice what I lost back on other compnaies just in the last couple months. I sold my USSIF months ago before it fell to $1.08. I didn't have any to sell when it recovered to $1.80 after HL's bid so I didn't add (or subtract) to the fall back in price.
Many thanks to DrBill for his prayers and encouragement! Hey DrBill, I've done quite well with ANR recently, $10,000s!
SP, I was being a bit facetious as the price continues to fall.
I don't own any USSIF any longer, but am considering taking a position again if the price does fall back to $1.80. That is where I sold my "old" USSIF shares ($3.05 basis).
Maybe HL will get both companies for $1.80!
Scottrade now longer has the symbol USSIF. Is newco trading under something different now in the US?
Some good info here:
http://www.caledoniamining.com/pdfs/CALPres08142012.pdf
The other question is "when will they stop unloading?"
I'm just glad I got out at $16+. I've been burned by NIA in the past. I'm not aware of any stock they pushed that has gone up and stayed up. They all fall back to or below the price at which they started pumping. With NIA you've got to know when to hold them and when to fold them. If you get a double, be happy and get out.
One thing about the current price is you're not likely to lose any more than $2 or $3.
I have a lot of similar stories, most recently LNG. I bought 20,000 at $2.42 and sold at $6.00. Made a nice profit. I turned around and bought 40,000 USSIF at $3.00. I sold the USSIF at $1.78 and LNG went to $18.00 and is now trading around $14.50. You talk about a bad decision!
I agree with you realest, CALVF is not likely to retreat anytime soon. I see us marching toward $0.20 - $0.25 in short order, especially after 2nd quarter financials are released. Taking profits is always a good thing, but carries the risk that you'll lose out on some greater profits. I wish I'd have done that in the past on occasion!
You cannot ask for a better day trading stock than ANR! With 25 - 30,000,000 shares trading every day, you can trade 10,000 share blocks at a time on very predictable moves and make $$$ thousands in just a few minutes. I love this stock!
Sorry to hear about your train wreck. I guess we've all had them. Mine was with USSIF (United States Silver). I lost about $65,000 with them. I've done pretty good with IVN (TRQ) and plan to keep trading it. TRQ really can't go much lower.
I have submitted a request and am waiting to hear from IH Admin; Should be changed shortly. Thanks for asking starboy!
One thing for sure, the trading on TRQ sure has been boring recently.
I sold 30,000 yesterday at $4.02; bought back in this morning at $3.72. Just as soon as I placed my $3.72 limit order it took off and I was only able to get 8,700 shares.
I love it Tomstocks. Let the bastages run for cover!
Seeing a little up today!
Seeing some premarket trading above yesterday's close. Would be nice to see a recovery today as yesterday we took a heavy pounding. We closed below the bottom Bollinger band so we could see a nice bounce up today.
I agree, in fact I picked up an additional 20k shares today at 6.33 and plan to make money on them. With Obambi out of the WH next year, we could see coal take off again. ANR is well positioned to move up. They have a solid balance sheet.
Of course I could be wrong!
Magnum Hunter Resources Announces New Shale Play Entry
8/8/2012
Magnum Hunter Resources Corporation (NYSE: MHR) (NYSE MKT: MHR.PRC) (NYSE MKT: MHR.PRD) ("Magnum Hunter" or the "Company") announced today that the Company has closed on the acquisition of 1,885 net mineral acres located in Atascosa County, Texas for approximately $2.35 million, implying a net per acre cost of $1,246. With this acquisition, the Company now has approximately 7,278 gross acres and 5,212 net acres located in Atascosa County, Texas.
The acquired acreage has both Eagle Ford Shale and Pearsall Shale potential and gives the Company approximately 10 additional net drilling locations in the Pearsall Shale and 10 - 13 additional net drilling locations in the Eagle Ford Shale. This now gives the Company approximately 40 net Pearsall locations assuming 750' spacing within its Atascosa core area. The Company spud its first well on the acquired acreage on August 4, 2012 and will drill vertically to the run logs and cores for a full formation evaluation on the Pearsall Shale. This well will then be drilled horizontally and completed in the Eagle Ford Shale.
The Company's Atascosa core area appears to have an ideal geologic setting for the Pearsall development. Management believes the area to be located within the "wet gas to rich condensate window." The area is bound by the Charlotte fault trend eight miles to the north and the Karnes fault trend to the south. The Pearsall Shale is located about 2500' beneath the Eagle Ford Shale and is approximately 500-600' in thickness. Composed of interbedded organic shale, silica and limestone, the Pearsall Shale is similar in composition to the Eagle Ford Shale.
Commenting on Magnum Hunter's entry into a fifth shale play, Mr. Gary C. Evans, Chairman and CEO, stated, "As mentioned in our Second Quarter 2012 Operations Update press release dated July 31, 2012, the Company is actively reviewing additional acreage expansion opportunities throughout the South Texas region where we continue to successfully develop our leasehold position in the Eagle Ford. We are consistently approached by industry participants with expansion opportunities due to the knowledge and experience we have gained over the past three years. Our management team has proven its ability to react quickly and efficiently in our effort to acquire additional acreage and existing properties at a favorable cost structure compared to our peers. Magnum Hunter has been fortunate to report some of the highest initial production rates of any company in the oil window of the Eagle Ford to-date. Additionally, our ultimate recoveries are approaching 500,000 bbls of oil equivalent per well. We have been monitoring the Pearsall Shale developments for almost a year now. We are excited about the prospects for future development of the evolving Pearsall Shale play and anticipate additional expansion of our existing leasehold position in this region. We are not increasing our capital budget for the Eagle Ford Division at this time, but merely shifting capital allocation to Atascosa County in order to complete these initial tests."
About Magnum Hunter Resources Corporation
Magnum Hunter Resources Corporation is an independent exploration and production company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in West Virginia, Kentucky, Ohio, Texas, North Dakota and Saskatchewan, Canada. The Company is active in five of the most prolific unconventional shale resource plays in North America, namely the Marcellus Shale, Utica Shale, Eagle Ford Shale, Pearsall Shale and Williston Basin/Bakken Shale. Magnum Hunter Resources is based in Houston, Texas. For more information, visit www.magnumhunterresources.com.
Forward-Looking Statements
The statements and information contained in this press release that are not statements of historical fact, including any estimates and assumptions contained herein, are "forward looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, referred to as the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, referred to as the Exchange Act. These forward-looking statements include, among others, statements, estimates and assumptions relating to our business and growth strategies, our oil and gas reserve estimates, our ability to successfully and economically explore for and develop oil and gas resources, our exploration and development prospects, future inventories, projects and programs, expectations relating to availability and costs of drilling rigs and field services, anticipated trends in our business or industry, our future results of operations, our liquidity and ability to finance our exploration and development activities and our midstream activities, market conditions in the oil and gas industry and the impact of environmental and other governmental regulation. In addition, with respect to any pending acquisitions described herein, forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of the proposed transactions; the ability to complete the proposed transactions considering the various closing conditions; the benefits of such transactions and their impact on the Company's business; and any statements of assumptions underlying any of the foregoing. In addition, if and when any proposed transaction is consummated, there will be risks and uncertainties related to the Company's ability to successfully integrate the operations and employees of the Company and the acquired business. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "could," "should," "expect," "intend," "estimate," "anticipate," "believe," "project," "pursue," "plan" or "continue" or the negative thereof or variations thereon or similar terminology.
These forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Factors that may cause our actual results, performance, or achievements to be materially different from those anticipated in forward-looking statements include, among others, the following: adverse economic conditions in the United States, Canada and globally; difficult and adverse conditions in the domestic and global capital and credit markets; changes in domestic and global demand for oil and natural gas; volatility in the prices we receive for our oil and natural gas; the effects of government regulation, permitting and other legal requirements; future developments with respect to the quality of our properties, including, among other things, the existence of reserves in economic quantities; uncertainties about the estimates of our oil and natural gas reserves; our ability to increase our production and oil and natural gas income through exploration and development; our ability to successfully apply horizontal drilling techniques; the effects of increased federal and state regulation, including regulation of the environmental aspects, of hydraulic fracturing; the number of well locations to be drilled, the cost to drill and the time frame within which they will be drilled; drilling and operating risks; the availability of equipment, such as drilling rigs and transportation pipelines; changes in our drilling plans and related budgets; regulatory, environmental and land management issues, and demand for gas gathering services, relating to our midstream operations; and the adequacy of our capital resources and liquidity including, but not limited to, access to additional borrowing capacity.
These factors are in addition to the risks described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's 2011 annual report on Form 10-K, as amended, filed with the Securities and Exchange Commission, which we refer to as the SEC. Most of these factors are difficult to anticipate and beyond our control. Because forward-looking statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such statements. You are cautioned not to place undue reliance on forward-looking statements contained herein, which speak only as of the date of this document. Other unknown or unpredictable factors may cause actual results to differ materially from those projected by the forward-looking statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. We urge readers to review and consider disclosures we make in our reports that discuss factors germane to our business. See in particular our reports on Forms 10-K, 10-Q and 8-K subsequently filed from time to time with the SEC. All forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements.
Contact:
Gabe Scott
Vice President -- Capital Markets and Corporate Development
ir@magnumhunterresources.com
(832) 203-4539
SOURCE: Magnum Hunter Resources
mailto:ir@magnumhunterresources.com
.
We are above the top Bollinger band on the daily chart, so could see a pull back today. But over next several weeks should see a nice increase.
Sorry fitnessguy, I didn't log on to IH yesterday. I was disappointed that it didn't hold the high $3.60s, but that will come. This company is as as undervalued as any I've seen. We'll make some money off this one!
Excellent video, but slightly dated. Reserves have actually nearly doubled again since this taping. Evans thinks $20 per share is where it should be.
Tibby,
The banksters didn't want it there so that's why it didn't happen. They set the price. There is no real market.
Good article.
Another thing to consider is they plan to increase their production to over 50,000,000 ounces of silver in 2014. What do you think that will do to the share price? And if you compound that with a $50 - $75 per ounce silver price...? Watch out!
Chris,
Scottrade is showing a TTM EPS of $2.93 and a P/E of 5. I think the only thing that keeps the price down, excluding shorting by the big boys, is the fact that the projects are in latin America.
I own 1,000 shares which I bought around $14 and expect it to go back over $30 in 12 - 18 months. Currently paying a 1.02% divvy yield. I consider it a solid investment currently trading a mere $1.27 or 9.4% above its 52-week low.
Pre-market has Bid - $3.81, Ask - $4.13
Very good news for MHR shareholders! The complaint people have with MHR is even though they increase their sales substantially year after year, they still lose money. The fact is they are cash flowing positively and investing in their future. I expect we'll see capitalization in the multiple billions of dollars soon.
MHR Short Interest
33,573,496 is 20% of TOTAL shares outstanding. I don't know what the float is, but given your percentage below I would say it is around 91,700,000. In that case, the short interest is 36.6% of float.
Settlement Date - Short Interest - Avg Daily Share Volume - Days To Cover
7/13/2012 - 33,573,496 - 2,759,084 - 12.168349
6/29/2012 - 34,149,090 - 4,234,265 - 8.064939
6/15/2012 - 32,883,356 - 4,006,106 - 8.208309
5/31/2012 - 31,648,973 - 4,329,039 - 7.310854
5/15/2012 - 32,835,997 - 7,837,647 - 4.189522
4/30/2012 - 29,971,063 - 3,494,322 - 8.577075
4/13/2012 - 30,320,053 - 2,800,808 - 10.825466
3/30/2012 - 30,265,715 - 3,602,941 - 8.400280
3/15/2012 - 32,900,148 - 3,726,180 - 8.829458
2/29/2012 - 30,745,401 - 5,340,142 - 5.757413
2/15/2012 - 29,357,512 - 4,035,298 - 7.275178
1/31/2012 - 29,060,707 - 2,856,348 - 10.174078
1/13/2012 - 30,175,202 - 3,742,999 - 8.061771
12/30/2011 - 30,785,364 - 2,889,100 - 10.655693
12/15/2011 - 30,771,917 - 2,955,980 - 10.410056
11/30/2011 - 31,650,914 - 3,039,426 - 10.413451
11/15/2011 - 31,286,971 - 4,171,864 - 7.499518
10/31/2011 - 29,393,701 - 3,596,964 - 8.171809
10/14/2011 - 30,165,429 - 5,379,751 - 5.607217
9/30/2011 - 30,305,171 - 4,472,974 - 6.775173
9/15/2011 - 26,930,490 - 2,491,694 - 10.808105
8/31/2011 - 24,635,356 - 3,441,072 - 7.159210
8/15/2011 - 24,151,650 - 3,289,353 - 7.342371
Read more: http://www.nasdaq.com/symbol/mhr/short-interest#ixzz22NIticsw