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As the OS increases, it seems less and less likely that Mason's 4.6m shares were ever something he intended to profit from. Could be dead wrong. Hope so, but to me it's looking like this whole Mason era was simply a ploy to sell his interest in Mustang Island, and wasn't Volk also paid a chunk of money for achieving some "asset value" target just before MI went on line?
Hope y'all forgive my negativity, but I'm all out of "serentity now's"
Ya that's a rough one.
Can't say I'd have sold if he'd omitted that "sidebar" but I'd be doubting Masons intentions and abilities just a little less now without those words ringing in my imagination.
Ya I'm not surprised the voicemails are disconnected. Probably overwhelmed with messages and why not spoon shareholder rage over to someone else? Wisely, management's ducking their heads now. Bet you're right about the delays too. Circumstances outside magagements control, and I can't imagine Mason would have PR'd "we're about to be handsomely rewarded" when the pps was .08 if he'd known this BS was going to take place. Maybe he did but at this point it hardly matters and I have little to lose in assuming Mason's working hard to combat this turn of events. It may be a little company, but the stakes are high and in the immortal words of my favorite drunk, it's "War all the time." Perhaps especially so in the oil biz.
Incidentally, I just fired a test shot at that 50k ask at .012 and it's deeper than 50k.
Man I don't know nothing. Just making noises, but this is a discussion forum (ideally). Wouldn't mind hearing what others have to say about that. I know there's been talk of a required "quiet period" but how long can that last if that's the case?
In most basic terms, my assumption is that Mason's being quiet because simply nothing has happened yet. No material event, and as others have stated Mason is not big on the fluff. He does do some, but it's always more of an aside to something substantive.
Beyond this simple explanation the reasons get complicated. Real complicated and way beyond the scope of my ignorance, but I'm comfortable assuming Mason's looking at a buttload of variables "behind the scene" and what that boils down to is a) he's waiting to come out with news "on purpose," or b) he's waiting to come out with news because he has no other choice. Probably a bit of both imo.
For sure, and I'm holding tight based of all that. It's been quite a bit more "egg cracking" than folks like us (from a year ago) imagined. Heck, I remember "sparring" with you on the ask last January for a few shares at...ahem...nevermind, but that's beside the point. Point is, despite underestimating the severity of the measure Mason's having to take to bring the nose up on this thing, I do believe we're getting a legitimate effort and if there's a way for this company to succede Mason will find it.
W/r/t me averaging down to the .03 area, at the moment I agree with you Fred. Completely. If however, I had no (or too few) shares I'd at least be scaling in something at this price.
We could get burned waiting for sub penny.
We could end up getting burned terribly.
But I have a hedge against that possibility with the share I already own. Guessing you do too.
Purly hypothetical, sure, but hey I'm counting on the tyranny of others here. The $100,000 question(s) for me though are "Where's the tyranny going to come from? (management, loan sharks, both?) and "How (if in any way) can I profit from their tyranny?" As it stands, I'm with you on your hypothesis and keeping my shares.
There ya' go S.D.
If it was easy, everyone would own stock that surge penny-to-dollar.
Major barnacle scrapin' going on here.
I'll agree with that Q. At least in the immediate sense. Long term (assuming the company gets the loans and the pps begins to uptrend) I think the split added liquidity for the sell off in order to preserve the company. Granted it's being done on the back of us "retails."
Hey, I'm just looking for answers x. Trying to make sense of things. Talking BK on this message board isn't going to change a thing any more than highlighting the (yes, numerous) potential positives. There are broader influences at work here. You confess that and I'll conceed that BK talk is simply "wild speculation."
I think most of us are "lol'ing" ourselves at this point anyway. Wouldn't you say?
Well clearly no amount of message board opinion (be it bullish or bearish) Makes a smudge of difference in the pps.
On that note...grrr.
Still hanging in. Watching. Waiting. Not buying more till some (official) word of an end to the conversions. If Mason's going to turn this thing around and bring value to shareholders who bought around the time of his last (rather optimistic) PR, then these are the days those shareholders are working for it.
Have to say though, the lower the pps goes the less confident I am that Mason's 4.6m shares going up in value means a damn to him, and if they don't mean a damn to him then who's to say Volks shares mean a damn to him either. I'd be more than happy to eat my words on this, and remain hopeful (at best).
Clearly I'm no authority by any stretch, and I don't know if it's feasible/viable/advantageous to do this (and I hope it isn't), but the thought that they could bankrupt the company and "roll" the assets into a new company has occurred to me. Delta Petroleum went bk and then the assets went into a new publically traded company Parr Petroleum. Again, no idea if such a thing could ever be advantageous to Volk/Mason. Only expressing my deepest concern, since (once again) our opinions on this board have no effect on the pps.
Be vigilant fellow longs.
Maybe it's leaked that they've got gol-gol-gol-gol-gol fee-fee-fee-fee va-va-va-va...
Way I see it, that brazenly downbeat cc, in combo with about 1/4 of the OS now having turned over since early Dec makes me think something's cookin' on the back burner.
Read an article last month. Think it was on SA or somesuch. Suggested the possibility of a buyout here. Don't know how many shares insiders own, but there was just no panic in that cc. No vain attempt to sugar coat the forward outlook. It's as if they wanted this thing to go down.
Whatever the case, I'm back in small at .72 because I figure at some point this thing has to trade at some premium over the .75 cash value.
Maybe not, but we'll see.
Step 7 - Acceptance.
Ya who knows. WGAS did recently utilize the consulting firm that worked with JAMN. Maybe this sell off's something akin to (technically) legal front loading and the plan is to run this fluffy puppy up something fierce...like BBDA.
$WGAS is poised to pull a "ROSG"
Everyone thought ROSG was doomed by debt and dilution just before it shot from 2.50 to 20 after a game changing material event.
Here's hoping we get our "game changer" soon.
Good call.
Time for $COOL to burn up some cash.
Maybe an RS will help somewhere down the line.
Dang, sales basically flat and the best thing they can say going forward is that they can cut costs to preserve cash till the industry gets better but it ain't going to happen in 2013.
Talk about a lack of enthusiasm...
Darn tootin bobbyT
Suppose we do get beat down sub panini because d-bar gets financed and the OS rockets to 100m, but then toxkick finizzle's cut out with some other type of financinizzle, and inizzle prodizzle from d-bizzle's rockin and rollin in 3 monthizzles pumpin even just a wee 50 bopdizzle? That's your .08 - .10 recovery right there, not counting market perception improving from no no no no no no no no no toxics, and MI rev's and further d-barrage and the W Tx'er and VM 17nizzle. The pps could be measured in peso chips and it wouldn't change the fact that the market cap would have to adjust prontizzle.
Course, this assumes at minimum Cap n' Mason gets this barge off the rocks. As it stands cappy' gone under deck, or, at least we think he's there. Can't be sure since he done locked the door to his quarters and there's no telling who's got the helm. Maybe he's seasick, just ashamed to show his face. Whatever the case it's every man for himself now so everybody gotta do what they gotta do.
Or something like that.
I'm hangin in there.
They get the flu in China? Could be a good year for oxygen condensors or whatever the heckfire $DHRM makes.
Stabbed at a few on the ask just to see if there was any life left in this thing. Need volume to get any size at this point.
On watch.
Salaries first. PPS second. Mason's 4.6m shares is/are now "worth" $56k. If he ends up just having "flipped" MI (like a house) for what? $500k (can't remember the exact figure he receives) and carrying a salary for 2 years what'll he give a hoot what his shares are worth in a year or two?
Only problem with this "theory" is that Volk has more shares. I'd think Volk has more incentive for pps.
I don't think this is managements "strategy" though.
I do believe they're trying to make things work, long term, but the salaries look like management wants to make sure they at least get paid for trying, which isn't unreasonable imo
Not a bad idea x.
I might buy more if if this conversion selling spikes us sub .01 Guessing retail support for these debt sells has waned considerabley since the RS. Especially in light of Mason's bullish "handsome reward" comment. Also, having had non-dilutive financing dangled in front of us (in the Q's) seems to have been premature at best. All in hindsight of course. I'd also be content to buy more if management gets something done to warrant their salaries, even if it means averaging up.
Waiting for the smoke to clear here either way.
Maybe the pps will go low enough for some insider buying to take place.
At these prices I'd feel better knowing Mason had more than 4.6m shares.
I'm in. Ready for The Great Uranium Rally of 2013.
You know if it true this company has $300m cash?
Awl right I'm back in. Down a few pennies but I just got to have a horse in the race for Q4 earnings and possible new game releases.
It's a conspiracy I tell ya. First Exxon bribes the liftboat cap'n (with a Dodge Viper) to ram an "uncharted underwater obstruction" (yeah right) and now they gone poked a hole in the feed line to our Chocolate'ee Oil Wonderfall. These Oil People are some real cutthroat rascals. I mean, look what they did to our pps just trying to scrape us innocent little barnacles off the hull of the S.S. Worthington!
Hang on to yer cement glands folks.
Decided to wait till funding on the next lease for my next buy. Could be a mistake but (even if inadvertently) us early longs have been "thrown under the bus" a bit. The non-dilutive financing may indeed come, and I have shares as a safeguard against that possibility, but my next "add" will take place "post-next stage" because this pps action and PR silence has me thinking mgmt will opt for equity based financing. imo
Tough stuff.
Have to admit, this kind of drop is not what I'd expected coming off the heels of Mason stating "our perseverance is going to pay off handsomely" (11/27 @ .08). Granted this was said prior to the pipeline shutdown, and sh*t happens, but even when we're back to producing it looks like we'll have a fair amount of 'persevering' to do. I might average down 1x more, but 'caveat emptor' folks.
Interesting bump in volume eod.
Not sure what to make of that tape, but couldn't want to go long so close to "Cliffmas Eve"
(had to be said)
As will I.
Just a weird time to go long now.
Yah Happy Holidays WGAS long-term'ers.
Remember: 500 boepd x $50 net per b x 300 days / 100m x PE10 still ='s .75 on the low end, or approximately 2000 shares per cow. Yum!
Like the look of this one if the market's up Wednesday.
Sort of wish I had a few.
So if Jim Cramer likes Energy XXI,
and Energy XXI is drilling VM179,
does that mean Jim Cramer likes WGAS
just an itty bit?
ynot...
http://www.thestreet.mobi/story/11798237/1.html
I'm guessing we're down because the OS increased (or soon will) because something's getting financed soon if it's not (essentially) already done. Higher OS, the more debt holders must sell to maintain their allowable max % of the OS.
In other words, an acquisition will likely be PR'd.
Wont say "soon" but i bet early January.
Well, so much for buying in on a morning gap down.
Looks like one hell of a setup.
Even money eps.
2.5m OS
$750k in cost savings in 2013.
CEO already said there'll be + earnings this quarter.
New product's doing well.
Improved distribution network achieved.
Government contracts eligible.
Etc etc etc...
Could be something
Anyone watching this now?
Think she would have been green on a Wall St "+ day."
Traded nicely though. Looks like accumulation to me.
Might try some on (again) tomorrow.
...hah...meanwhile 15k blocks push the bid up...
I know nothing.
Ya I agree, although I'm betting there'll be some ugliness in the broader market prior to eoy and a chance to buy this in the .9's even if it's the high .9's
No expert either. Closer to the opposite hah