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REXX - 3.00 +0.48 +19.05%
MGA.TO - 1.58 +0.23 +17.04%
LAM.TO - 1.35 +0.13 +10.66%
HERO - +8.36%
PKD - +20.53% , nice.
KWK - 6.90 +0.76 +12.38% on upgrade .
April 8, 2009 12:00 PM EDT
Capital One Southcoast upgrades Quicksilver Resources Inc. (NYSE: KWK) from Neutral to Add and raised its price target from $8 to $9 following a positive meeting with management.
The firm cited:
Likely cutting CAPEX, but minimal changes to 2009 and 2010 production. Rig count to go from 8 to 5-6 and save the save the company ~$100MM.
KWK's bank meeting was one week ago, and management thinks they will likely see no change to the $1.2B borrowing base but that the rate might increase from 225 bpts above LIBOR to 325 or 350. We see the likely unchanged borrowing base as a positive.
We do not think that KWK tripped any debt covenants in 1Q.
http://www.streetinsider.com/Upgrades/Capital+One+Southcoast+Upgrades+Quicksilver+Resources+(KWK)+to+Add/4549808.html
ERPL -- holding .10 - .11 while on life support 4/14.
"Company's credit agreement, extending the due date for the repayment of the borrowing base deficiency until April 14, 2009.
Entry into a Material Definitive Agreement
http://biz.yahoo.com/e/090406/erpl.pk8-k.html
REXX - still holding 50dma.
TMR -- still green looking for .325 intra break. lower volume...
TTM - 6.55 +0.70 +11.97%
ARII looks interesting, low volume.
SPSN - +85.33% -- Samsung Electronics Co. (005930.SE) agreed to pay memory-chip maker Spansion Inc. (SPSN, $0.24, +$0.11, +80.22%) $70 million to settle patent lawsuits, and the two companies exchanged patent rights in licenses and covenants.
LNC - 8.92 +2.03 +29.46%
HW - +12.03%
I just did a quick glance at the company, looks like a reverse merger into the FVRL shell. Seemed like a risky play for the BigBoard. Granted I don't know jack about the company and don't want to appear to be bashing your baby! I'm just leary of the set up and good story stocks in general. Understand the cost savings blablabla of a RM.
I'm just curious.....your steping out into the land of wizards and OZ in OT land. lol
FVRL -- Has had a great run and good "story" with Obama pumping. Why are you so hot on this stock other than your profits? serious lol
PEIX - +29.14%
CZZ - 4.95 +0.82 +19.85% crazy
SPRD - 1.37 +0.10 +7.88%
CERP -- back to where she started. 08
RDN - +9.48%
TMR - +25.96%
In and out for .18 cause I's scared. lol
Sounds good...just a heads up.
Hmm...someone working it.
http://finance.google.com/group/google.finance.694994/browse_thread/thread/3b4ea8d7bdc4cf67
LMT - 73.28 +5.97 +8.87% pos! lol
Torture In Iran: 60 Minutes - Spoonfeeds the American public with Anderson Cooper's pre-read story and canned spam journalism. Hmm...why? lol For a guy that was repeatedly tortured for 9 yrs and had his face/teeth kicked in...face looks OK to me. No doubt Iran probably tortures people. Pure BS propaganda IMO. Look at the comments after the vid........all praise. lol total bs if ya ask me.
Ahmad Batebi tells CNN's Anderson Cooper, in his 1st U.S. television interview how he was tortured for 9 years in an Iranian prison and how he managed to escape.
http://www.cbsnews.com/video/watch/?id=4920609n
Torture In Iran: 60 Minutes - Spoonfeeds the American public with Anderson Cooper's pre-read story and canned spam journalism. Hmm...why? lol For a guy that was repeatedly tortured for 9 yrs and had his face/teeth kicked in...face looks OK to me. No doubt Iran probably tortures people. Pure BS propaganda IMO. Look at the comments after the vid........all praise. lol total bs if ya ask me.
Ahmad Batebi tells CNN's Anderson Cooper, in his 1st U.S. television interview how he was tortured for 9 years in an Iranian prison and how he managed to escape.
http://www.cbsnews.com/video/watch/?id=4920609n
ERPL - +18.18%
lotto...NYSE delisted
6-Apr-2009
Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
As previously disclosed in the Current Report on Form 8-K dated March 24, 2009 and filed on March 30, 2009, Energy Partners, Ltd. (the "Company") had until April 3, 2009 to repay the borrowing base deficiency of $38 million that resulted from the reduction of its borrowing base under its existing credit agreement. On April 3, 2009, the Company obtained a consent from a majority in interest of the bank lenders under the Company's credit agreement, extending the due date for the repayment of the borrowing base deficiency until April 14, 2009.
The Company does not have the cash resources or unencumbered assets to repay the borrowing base deficiency in full on April 14, 2009 and is continuing to negotiate a forbearance agreement with the bank lenders under its credit agreement. Although the Company is currently in negotiations with the bank lenders, there can be no assurance that the negotiations with the bank lenders will be successful. If the Company is unable to secure additional financing, restructure its debt or successfully negotiate a forbearance agreement with its bank lenders, it may be required to file for bankruptcy protection.
http://biz.yahoo.com/e/090406/erpl.pk8-k.html
ERPL -- Energy Partners' lenders agree to extend due date on debt
by The Times-Picayune Monday April 06, 2009, 11:30 AM
Energy Partners Ltd. reported this morning that it has gotten most of its lenders to extend the due date on a certain portion of its debt until April 14.
Earlier this year, the New Orleans energy company reduced the size of its board of directors and hired a Houston firm to help it review strategic alternatives. Last week, the company's shares were removed from the New York Stock Exchange.
http://www.nola.com/business/index.ssf/2009/04/energy_partners_lenders_agree.html
CZZ - 3.75 +0.25 +7.14%
DNN - 0.88 +0.10 +12.82%
CZZ -- Boom -- 3.50 +0.67 +23.67%
This could be a Good thing for people who got in cheap IMO? Exchanging bonds for Stock may mean No BK? Depending on what type of stock and terms of the deal. Will more than likely Dilute current shareholders and cause a potential lawsuit for conflict of interest?
Energy Partners, LTD Shareholders At Risk
Will EPL plans to exchange bonds for stock jeopardize shareholder interests?
TEQUESTA, Fla., April 3 /PRNewswire/ -- In a letter to Alan D. Bell, Chief Restructuring Officer, and the Board of Directors of Energy Partners, LTD (EPL), Charles Reinwald, Chairman of the Cancer Cure Coalition (CCC), personally holding a quarter million shares as well as representing CCC which holds 1,200 shares, expressed deep concern over a proposed bond buyout of the company's notes for its stock. The result, if adopted, would virtually wipe out the value of the shareholders' stock. He noted that Carlson Capital, a large bond holder, holds three of the 7 seats on the board and points out this is a conflict of interest. He also asked if any severance payments were made to Richard Bachmann, former CEO, and Joseph T. Leary, former CFO. Mr. Reinwald suggested that a Shareholder Committee be formed to protect the shareholders' interests.
If you would like more information, a copy of Mr. Reinwald's letter, or to discuss establishing a shareholder's protection committee, contact Mr. Reinwald at (541) 359-1851 or e-mail him at charles01234@aol.com
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/04-03-2009/0005000611&EDATE=
I was making a Joke in response to "someone" accusing me of not doing "proper DD."
Posted by: Cowboy Date: Wednesday, April 01, 2009 5:45:58 PM
In reply to: Arrow335 who wrote msg# 14 Post # of 48
Lotto play...I don't think so.
Try reading a little history on the company and doing proper DD. 2008 was a shambles for EPL because of the after effects that hurricane Katrina had on them. Now as of a couple of months ago production levels have come back to pre-Katrina levels. The current production levels even at todays cost per barrel demand a much higher share price than where the stock is currently trading. I believe the current conditions provide for a very attractive situation, either the company will restructure their debt and/or could even entertain a possible buyout.
I expect to see some nice improvements to the balance sheet very soon.
These guys are sitting on cash and are well positioned to move forward.
Like all large companies they have revolving credit lines and thats what they are working on.
After all this IS A NYSE stock and it will be again. In fact it was a 16 dollar plus stock
Mark my words.
Posted by: Arrow335 Date: Wednesday, April 01, 2009 8:18:42 PM
In reply to: Cowboy who wrote msg# 15 Post # of 49
"Try reading a little history on the company and doing proper DD"
Perhaps you should take your own advise!!!...LOL
Katrina was 2005....LMAO!
"2008 was a shambles for EPL because of the after effects that hurricane Katrina had on them. Now as of a couple of months ago production levels have come back to pre-Katrina levels. "...Really.....lol
Production for the year ended December 31, 2008 totaled approximately 4.8 million Boe, as compared to 8.8 million Boe for the year ended December 31, 2007.
At December 31, 2008, our total debt was $497.5 million, which included $43.0 million of borrowings during the fourth quarter under our bank credit facility. These borrowings, which were continuing to occur during the first quarter 2009, have been necessary due to production volumes being severely curtailed as we awaited repairs to third party pipelines damaged by the 2008 hurricanes.
http://pinksheets.com/edgar/GetFilingHtml?FilingID=6486170
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36741728
Yep...my question has to do numbers and resignations. Lott's of companies cooking the books these days. Hope these guys arn't one of them.
Then again, "hurricane Katrina" could come back this weekend! LOL
GL
Try reading a little history on the company and doing proper DD. 2008 was a shambles for EPL because of the after effects that hurricane Katrina had on them. Now as of a couple of months ago production levels have come back to pre-Katrina levels. The current production levels even at todays cost per barrel demand a much higher share price than where the stock is currently trading. I believe the current conditions provide for a very attractive situation, either the company will restructure their debt and/or could even entertain a possible buyout.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36739544
Production for the year ended December 31, 2008 totaled approximately 4.8 million Boe, as compared to 8.8 million Boe for the year ended December 31, 2007.
At December 31, 2008, our total debt was $497.5 million, which included $43.0 million of borrowings during the fourth quarter under our bank credit facility. These borrowings, which were continuing to occur during the first quarter 2009, have been necessary due to production volumes being severely curtailed as we awaited repairs to third party pipelines damaged by the 2008 hurricanes.
http://pinksheets.com/edgar/GetFilingHtml?FilingID=6486170
Yep...if they announce a default after the close, may be able to get some very cheap shares on Mon open for a Fast flip on a bounce? Same for a BK pr. Good news could pop her .10 + guessing most buyers this week hoping to sell on good news pr.
Congrat's! nice call
Guess today is the day. Hope they pr some Good News before the close! It's been my experience that Companies save bad news for after the close on Fridays. Maybe they'll work something out over the weekend or next week with no pr? They have a Good Team working on the restructure.
GL
The cracks are already visible in companies like New Orleans-based Energy Partners Ltd. (ERPL), which said Monday it can't meet its bankers' request for a $38 million lump-sump payment by Friday, the result of the company's borrowing base falling from $150 million to $45 million. Energy Partners, which this week began trading over the counter after being suspended from the New York Stock Exchange due to insufficient market capitalization, said it's pleading with lenders for a waiver. If it doesn't come, a bankruptcy is possible, the company said in a securities filing.
http://online.wsj.com/article/BT-CO-20090402-714696.html
The Company does not currently have sufficient cash resources to repay the borrowing base deficiency by April 3, 2009. If the Company is unable to successfully negotiate a forbearance agreement, obtain a waiver of compliance or cure the borrowing base deficiency, an event of default under the Credit Agreement will occur. An event of default under the Credit Agreement permits the Administrative Agent or the Lenders holding more than 50% of the commitments under the Credit Agreement to accelerate repayment of all amounts due and to terminate the commitments thereunder. The Company currently has $83 million drawn under the Credit Agreement. Any event of default which results in such acceleration under the Credit Agreement would also result in an event of default under the Company’s $450 million principal amount of senior unsecured notes. The Company does not have sufficient cash resources to repay these amounts if the Lenders accelerate their obligations under the Credit Agreement. If the Company is unable to successfully negotiate a forbearance agreement or waiver with the Lenders, or if the Lenders accelerate their obligations under the Credit Agreement, the Company may be forced to voluntarily seek bankruptcy protection.
http://pinksheets.com/edgar/GetFilingHtml?FilingID=6510431