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.
FREE DRINKS TODAY!!
At the Tasting Room next to BPZ's new offices, starting at 2:00 pm today.
Come help us celebrate...Ask for the BPZ party.
WRONG ! Debt and depreciation are major items and growth is slowing, especially in LNG. There is a huge debt payment due in August, and they will have to issue shares to cover... Those shares will be discounted and dilutive... two hits for the price of one.
Who's crying? Some people are laughing all the way to the bank.
We should all go to the Tasting Room next to BPZ's offices today, I'll bet the management will be there celebrating. It might be good for a free glass of Champagne.
NO, PERU has no say in a court in Victoria, TX.
Still holding on to your " glimmer of hope "?
You are officially a BAGHOLDER.
You have all been warned repeatedly...now for the REALLY BAD NEWS.
"THERE WILL BE NO ASSETS LEFT FOR DISTRIBUTION" is a phrase the longs will be seeing a lot of going forward.
I think I will cover some of my OTM options today...
MATERIAL IMPAIRMENTS.
In connection with the pending merger of Fuel Systems Solutions, Inc. (the “Company”) with Westport Innovations Inc., the Company recently concluded that an impairment analysis must be performed to determine whether the Company may be required to record an asset impairment charge. The Company has not yet completed its analysis to determine whether an asset impairment charge would be recorded. If applicable, the estimated amount of any asset impairment charge will be determined by the Company as it finalizes its financial statements for the period ended September 30, 2015.
Accordingly, until the Company determines whether an asset impairment charge would be recorded and, if applicable, the estimated amount of any asset impairment charge, the Company will be unable to file its Quarterly Report on Form 10-Q for the period ended September 30, 2015 (the “Third Quarter 2015 Form 10-Q”). The Company is working in good faith to complete its analysis. The Company expects to file the Third Quarter 2015 Form 10-Q once the impairment analysis is completed which may be beyond the date for filing such Form 10-Q including any extensions.
Cheap diesel deals big setback to natural gas truck sales
Nov 5 (Reuters) - Sales of trucks powered by natural gas are sputtering and growth will be far weaker this year than last as tumbling diesel prices prevent drivers from switching over to the cleaner-burning fuel even though it is cheaper than it has been in years.
Sales of medium and heavy duty natural gas trucks are expected to rise less than 1 percent this year after climbing nearly 27 percent in 2014, Power Systems Research, a St. Paul, Minnesota firm that studies engines, told Reuters. It cut that projection from about 4 percent earlier this year.
Lured by lower fuel prices and the desire to please increasingly emissions-conscious customers, the trucking industry in recent years has been adopting natural gas as a fuel source despite far higher costs for the trucks.
But now oil's more than 50 percent drop in the last 16 months is setting back the natural gas truck market by several years.
"Adoption rates of natural gas engines will ultimately depend on the price of diesel fuel," said Jim Downey, a vice president at Power Systems Research, which now thinks it will take until at least 2020 for 4 or 5 percent of U.S. trucks to run on natural gas, not 2016 or 2017 as previously projected.
A few thousand natural gas vehicles are sold each year for long haul trucking in the United States, compared with some 3.4 million class 8 trucks - the heaviest duty truck classification - on the roads.
Though benchmark U.S. natural gas has tumbled by more than 20 percent since late September to around $2 per million Btu on some days, the cost savings of using natural gas versus diesel is narrower than it was a year ago.
That benefit has dwindled to about 15 cents a gallon, down from 50 cents a gallon a year ago, said Raymond James analyst Pavel Molchanov.
When potential buyers factor in the tens of thousands of extra dollars for natural gas trucks, the switch doesn't make sense as it used to for many.
"I don't know of anyone looking at it for monetary reasons anymore," said Kurt Palmer, director of sales for the leasing arm of Palmer Trucks, a Kenworth truck dealer with locations in Indiana and Ohio. "It slowed almost to a crawl, and for a while it was the hottest thing going."
Palmer Trucks has sold or leased about 70 natural gas trucks this year, down from about 100 last year, Palmer said, adding that most business this year was from existing customers replacing older trucks, not people switching to natural gas.
Contract Transport Services LLC, a regional trucking company in Green Bay, Wisconsin, has added 31 natural gas trucks to its 147-truck fleet since 2013 but is holding off on adding more.
"If diesel was at $3.85 a gallon I'd still be buying them," CTS President Curt Reitz said. Diesel is now around $2.30 a gallon in the Midwest.
Westport Innovations Inc, a Vancouver-based manufacturer of engines for natural gas vehicles, expects its U.S. business to be about flat this year.
"The U.S. market is going to continue to be a slow rise," Chief Executive David Demers said.
Despite the gloomy outlook among buyers and manufacturers, fuel supplier Clean Energy Fuels Corp said natural gas pricing guaranteed in long-term contracts appeals to many.
Fleets "almost prefer stability over low prices so that they can properly budget," spokesman Gary Foster said.
Dillon Transport Inc, based in Illinois, is still buying natural gas trucks because its customers require lower-emission vehicles. But the time it takes the company to recoup the additional investment has doubled to 3 years.
"We are still drinking the Kool-Aid," said Phil Crofts, Dillon's director of marketing.
MATERIAL IMPAIRMENTS.
In connection with the pending merger of Fuel Systems Solutions, Inc. (the “Company”) with Westport Innovations Inc., the Company recently concluded that an impairment analysis must be performed to determine whether the Company may be required to record an asset impairment charge. The Company has not yet completed its analysis to determine whether an asset impairment charge would be recorded. If applicable, the estimated amount of any asset impairment charge will be determined by the Company as it finalizes its financial statements for the period ended September 30, 2015.
Accordingly, until the Company determines whether an asset impairment charge would be recorded and, if applicable, the estimated amount of any asset impairment charge, the Company will be unable to file its Quarterly Report on Form 10-Q for the period ended September 30, 2015 (the “Third Quarter 2015 Form 10-Q”). The Company is working in good faith to complete its analysis. The Company expects to file the Third Quarter 2015 Form 10-Q once the impairment analysis is completed which may be beyond the date for filing such Form 10-Q including any extensions.
If that is all that was filed after all this time...I would be very worried if I was long....
Yep, been shorting WPRT for years...
The run-up was your typical "buy on the rumor"...
Will we see "selling on the facts" next week when the earnings are released?
I am still holding a bunch of OTM options, just in case the merger turns out to be another WPRT disaster...
Yes great news... We are down 90%;
We can't meet our debt obligations :
We can't execute on our stated strategy and goals;
We didn't do ANY of the deals we said we were going to do;
"The captain of the Titanic, is pleased to announce that fresh crushed ice for your cocktails is being served on the promenade deck.." This sounds like good news to me too.
D_I_L_U_T_I_O_N !!!!!
Did everyone listen to the CC or read the transcript? Looks like they will be selling more shares in 2016...
DILUTION ~!
THE REFI IS ACTUALLY BAD NEWS !
These guys can't run their business or cover their debts ...so are they are buying time? Or postponing the inevitable ?
MARGINS ARE TERRIBLE.
Read the financials, growth in volumes, but losses due to poor/lower margins per gallon.
Cheap diesel deals big setback to natural gas truck sales
Nov 5 (Reuters) - Sales of trucks powered by natural gas are sputtering and growth will be far weaker this year than last as tumbling diesel prices prevent drivers from switching over to the cleaner-burning fuel even though it is cheaper than it has been in years.
Sales of medium and heavy duty natural gas trucks are expected to rise less than 1 percent this year after climbing nearly 27 percent in 2014, Power Systems Research, a St. Paul, Minnesota firm that studies engines, told Reuters. It cut that projection from about 4 percent earlier this year.
Lured by lower fuel prices and the desire to please increasingly emissions-conscious customers, the trucking industry in recent years has been adopting natural gas as a fuel source despite far higher costs for the trucks.
But now oil's more than 50 percent drop in the last 16 months is setting back the natural gas truck market by several years.
"Adoption rates of natural gas engines will ultimately depend on the price of diesel fuel," said Jim Downey, a vice president at Power Systems Research, which now thinks it will take until at least 2020 for 4 or 5 percent of U.S. trucks to run on natural gas, not 2016 or 2017 as previously projected.
A few thousand natural gas vehicles are sold each year for long haul trucking in the United States, compared with some 3.4 million class 8 trucks - the heaviest duty truck classification - on the roads.
Though benchmark U.S. natural gas has tumbled by more than 20 percent since late September to around $2 per million Btu on some days, the cost savings of using natural gas versus diesel is narrower than it was a year ago.
That benefit has dwindled to about 15 cents a gallon, down from 50 cents a gallon a year ago, said Raymond James analyst Pavel Molchanov.
When potential buyers factor in the tens of thousands of extra dollars for natural gas trucks, the switch doesn't make sense as it used to for many.
"I don't know of anyone looking at it for monetary reasons anymore," said Kurt Palmer, director of sales for the leasing arm of Palmer Trucks, a Kenworth truck dealer with locations in Indiana and Ohio. "It slowed almost to a crawl, and for a while it was the hottest thing going."
Palmer Trucks has sold or leased about 70 natural gas trucks this year, down from about 100 last year, Palmer said, adding that most business this year was from existing customers replacing older trucks, not people switching to natural gas.
Contract Transport Services LLC, a regional trucking company in Green Bay, Wisconsin, has added 31 natural gas trucks to its 147-truck fleet since 2013 but is holding off on adding more.
"If diesel was at $3.85 a gallon I'd still be buying them," CTS President Curt Reitz said. Diesel is now around $2.30 a gallon in the Midwest.
Westport Innovations Inc, a Vancouver-based manufacturer of engines for natural gas vehicles, expects its U.S. business to be about flat this year.
"The U.S. market is going to continue to be a slow rise," Chief Executive David Demers said.
Despite the gloomy outlook among buyers and manufacturers, fuel supplier Clean Energy Fuels Corp said natural gas pricing guaranteed in long-term contracts appeals to many.
Fleets "almost prefer stability over low prices so that they can properly budget," spokesman Gary Foster said.
Dillon Transport Inc, based in Illinois, is still buying natural gas trucks because its customers require lower-emission vehicles. But the time it takes the company to recoup the additional investment has doubled to 3 years.
"We are still drinking the Kool-Aid," said Phil Crofts, Dillon's director of marketing.
Cheap diesel deals big setback to natural gas truck sales
Nov 5 (Reuters) - Sales of trucks powered by natural gas are sputtering and growth will be far weaker this year than last as tumbling diesel prices prevent drivers from switching over to the cleaner-burning fuel even though it is cheaper than it has been in years.
Sales of medium and heavy duty natural gas trucks are expected to rise less than 1 percent this year after climbing nearly 27 percent in 2014, Power Systems Research, a St. Paul, Minnesota firm that studies engines, told Reuters. It cut that projection from about 4 percent earlier this year.
Lured by lower fuel prices and the desire to please increasingly emissions-conscious customers, the trucking industry in recent years has been adopting natural gas as a fuel source despite far higher costs for the trucks.
But now oil's more than 50 percent drop in the last 16 months is setting back the natural gas truck market by several years.
"Adoption rates of natural gas engines will ultimately depend on the price of diesel fuel," said Jim Downey, a vice president at Power Systems Research, which now thinks it will take until at least 2020 for 4 or 5 percent of U.S. trucks to run on natural gas, not 2016 or 2017 as previously projected.
A few thousand natural gas vehicles are sold each year for long haul trucking in the United States, compared with some 3.4 million class 8 trucks - the heaviest duty truck classification - on the roads.
Though benchmark U.S. natural gas has tumbled by more than 20 percent since late September to around $2 per million Btu on some days, the cost savings of using natural gas versus diesel is narrower than it was a year ago.
That benefit has dwindled to about 15 cents a gallon, down from 50 cents a gallon a year ago, said Raymond James analyst Pavel Molchanov.
When potential buyers factor in the tens of thousands of extra dollars for natural gas trucks, the switch doesn't make sense as it used to for many.
"I don't know of anyone looking at it for monetary reasons anymore," said Kurt Palmer, director of sales for the leasing arm of Palmer Trucks, a Kenworth truck dealer with locations in Indiana and Ohio. "It slowed almost to a crawl, and for a while it was the hottest thing going."
Palmer Trucks has sold or leased about 70 natural gas trucks this year, down from about 100 last year, Palmer said, adding that most business this year was from existing customers replacing older trucks, not people switching to natural gas.
Contract Transport Services LLC, a regional trucking company in Green Bay, Wisconsin, has added 31 natural gas trucks to its 147-truck fleet since 2013 but is holding off on adding more.
"If diesel was at $3.85 a gallon I'd still be buying them," CTS President Curt Reitz said. Diesel is now around $2.30 a gallon in the Midwest.
Westport Innovations Inc, a Vancouver-based manufacturer of engines for natural gas vehicles, expects its U.S. business to be about flat this year.
"The U.S. market is going to continue to be a slow rise," Chief Executive David Demers said.
Despite the gloomy outlook among buyers and manufacturers, fuel supplier Clean Energy Fuels Corp said natural gas pricing guaranteed in long-term contracts appeals to many.
Fleets "almost prefer stability over low prices so that they can properly budget," spokesman Gary Foster said.
Dillon Transport Inc, based in Illinois, is still buying natural gas trucks because its customers require lower-emission vehicles. But the time it takes the company to recoup the additional investment has doubled to 3 years.
"We are still drinking the Kool-Aid," said Phil Crofts, Dillon's director of marketing.
TRUE...BUT THESE ARE 5 YEAR LOWS!
This stock has fallen from $40+ to $3.00...and just because it is bumbling along in the threes does not make this a good/safe investment.
There is a liquidity event coming, and please note that this company has never made a profit. Have I left anything out?
THE PROCESS HAS ALREADY BEGUN.....
Volumes are up, but all of the numbers involving $$$$ are NEGATIVE!
Bunkering fuel means fueling a vessel as opposed to the vessel actually carrying the fuel as cargo. Today's announcement equates to a one-time event of about 20 truckloads of LNG. Not a continuously recurring event.
Good news, but not great news or a game changer.
Kevin McCarthy and Dallas Salazar have some very serious criticisms of MHR and the management. Some form of BANKRUPTCY is being discussed.
I have noticed in the news recently that when everyone heads to the exit at the same time, many people get crushed...
I think the same thing will happen when the court announces that this is a done deal and the share holders will be getting $0.00.
Better to sell and get $0.0001 than to get $0.00 at de-listing...
That is true, but why do you think these guys chose a court/judge in Victoria, Texas?
What will happen to the BPZRQ share price when everyone tries to sell at the same time?
If you are correct, that is a MAJOR DEPARTURE from the story they have been selling.
So the business model for the last few years was flawed? When have we heard that before?
So will this new business model be successful? Or just less flawed?
Same team , different model... These guys do not know what they are doing. they are reactive instead of pro-active, and are happy to reward themselves for their own failures.
THIS IS A TERRIBLE INVESTMENT !
No, not bribery..reality...
"there will be no assets remaining for distribution to the shareholders".
Today...they are ugly
ANOTHER RECALL !!!!
Will this one be fatal?
ANOTHER GREAT DAY TO BE SHORT WPRT !!!
Pretty Large and very healthy !
Are you LONG?....and WRONG?
I have been shorting WPRT for more than two years and have never been disappointed. Like all of this week's "good news" PR, and then they release the negative financials... CLASSIC.
Always the same...
They put out a bunch of vapid PR (the PUMP) and hope it will buffer the negative impact of the real news...in this case. today's financials (the DUMP).
They are TERRIBLE...as usual. Has this company EVER made a profit?
MORE SHORT COVERING... this is and ATM !!!
ANOTHER NAIL IN THE COFFIN?
VANCOUVER, Oct. 21, 2015 /PRNewswire/ - Westport Innovations Inc. (TSX:WPT / Nasdaq:WPRT) ("Westport"), engineering the world's most advanced natural gas engines and vehicles, announced today that the proposed merger with Fuel Systems Solutions, Inc. ("Fuel Systems") has satisfied the requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. There is no further antitrust clearance required to close the transaction.
As announced on September 1, 2015, Westport and Fuel Systems have entered into an Agreement and Plan of Merger (the "Merger Agreement") to combine their businesses through merger. Pursuant to the Merger Agreement, Whitehorse Merger Sub Inc., a newly formed, wholly owned subsidiary of Westport, will merge with and into Fuel Systems, with Fuel Systems surviving the merger as a wholly owned subsidiary of Westport. As consideration for the merger, stockholders of Fuel Systems will receive a fixed ratio of common shares of Westport.
The Westport common shares to be issued pursuant to the Merger Agreement will be issued pursuant to a registration statement on Form F-4, which has been filed with the SEC. In the Form F-4, Westport is providing, among others, certain forward-looking financial information and financial outlook information which is subject to the risks, qualifications, assumptions and other cautionary language set out in such Form F-4. Readers are encouraged to review such cautionary language carefully.
ASK YOURSELVES !!!
It has begun to climb, and yet nothing has changed...???
They still can't sell the pipeline or close the JV... the same situation as last week !
There needs to be a serious, positive news event/catalyst to reverse this trend.
ANOTHER PUMP !!!
VANCOUVER, Oct. 21, 2015 /PRNewswire/ - Westport Innovations Inc. (TSX:WPT / Nasdaq:WPRT) ("Westport"), engineering the world's most advanced natural gas engines and vehicles, announced today that the proposed merger with Fuel Systems Solutions, Inc. ("Fuel Systems") has satisfied the requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. There is no further antitrust clearance required to close the transaction.
As announced on September 1, 2015, Westport and Fuel Systems have entered into an Agreement and Plan of Merger (the "Merger Agreement") to combine their businesses through merger. Pursuant to the Merger Agreement, Whitehorse Merger Sub Inc., a newly formed, wholly owned subsidiary of Westport, will merge with and into Fuel Systems, with Fuel Systems surviving the merger as a wholly owned subsidiary of Westport. As consideration for the merger, stockholders of Fuel Systems will receive a fixed ratio of common shares of Westport.
The Westport common shares to be issued pursuant to the Merger Agreement will be issued pursuant to a registration statement on Form F-4, which has been filed with the SEC. In the Form F-4, Westport is providing, among others, certain forward-looking financial information and financial outlook information which is subject to the risks, qualifications, assumptions and other cautionary language set out in such Form F-4. Readers are encouraged to review such cautionary language carefully.
Where? Which prison? In the US? Cayman Islands? Peru?
A kid shoplifts a couple of $$ in a convenience store and goes to jail...but a CEO can squander billions....
Yes, positive news is out... THIS IS CALLED A PUMP!
WRONG !! It's not about shareholder confidence or the Board telling Gary to do a deal... The Board needs to grow a pair and tell Gary to:
HIT THE BRICKS !!!
No one is talking about shareholder confidence...the people at the table don't believe anything he says... They know the company has painted themselves into a corner. The only way out is if GE goes.
31 CENTS PR SHARE !!!
You guys realize that are some very good reasons why MHR is only 31 cents/share. The management has continually OVER-PROMISED and UNDER-DELIVERED. No one believes the management anymore. Good news or bad news we simply do not believe ... Fire Gary and the share price will go over $1.00... Hire someone credible and the share price could hit $5.00.
Very simple.