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I added as well, and then it went down .003! Oh well, such is the game.
I plan to as well Lucy.
Jay
MWM, I'm a small player compared to most with only 200K, but my average is only .066 and I've room to average up when appropriate! Loving this Co's potential and its current stock stability.
Jay
PE of 10?
So very true! I agree completely. Even though Saudi announced this AM no "emergency" meeting of OPEC is currently needed we all know how suddenly Geopolitical events can and do change. Nigeria and Vanezulia have already announced cuts and I forsee Iran soon to follow and thus pressure will mount from within OPEC to bring about a cut, by Saudi Arabia. This is all of course my opinion and one thing I've learned after 30 + years in the Oil & Gas industry is 'anything' can and usually does happen!
No sooner said . . .Saudi spokesman says no need for immediate production cut. Wants to keep the price "reasonable" for both producers and consumers say they! Price of crude now falling a bit looking for support at around $57.50 . . . . .
Fed weekly supply numbers were released and showed a build in Crude of 3.3 million Barrels and the price didn't fall. Holding strong for the moment just below $59. Market seems to be holding waiting for Saudi Arabia to announce production cuts. Natural Gas is actually climbing a bit this morning. Of course it is unknown what supply numbers we'll receive tomorrow and how the market will react.
I was under the impression UBSS was Schwab! I could however be wrong.
The stock price sure did act like it hit a bottom yesterday. The Fed came out with its weekly numbers and immediately the SP started a climb. Even with the massive gas build-up it sustained its climb over the day. I jumped back in at .72 and will be watching her even closer as they find ways to spend some of that 50 M dollar line of credit.
I agree.. I hate betting on weather and it looks like until we get a really major cold front we aren't going to see any upward movement in NG prices. As to Crude with the tremendous build in gasoline we saw this AM if OPEC doesn't curtail production (which I think they will, or at least disclose their conversations concerning such)we are going to be seeing $58 in the next week.
So, let them delay I'd actually prefer it!
'God's Doings' . . .OK, then let's call the Driller and tell him we choose to wait until the price of NG reaches $5 before he puts the bit in the ground. I place this at around mid-November. This way we can watch and wait for the stock price to drop to .08 and I can grab another 200K!!!!!! I hate dead money and that's what we've had for the last month and a half!! What do you bet I get lambasted for this comment????
Jay
'God's Doings' . . .OK, then let's call the Driller and tell him we choose to wait until the price of NG reaches $5 before he puts the bit in the ground. I place this at around mid-November. This way we can watch and wait for the stock price to drop to .08 and I can grab another 200K!!!!!! I hate dead money and that's what we've had for the last month and a half!! What do you bet I get lambasted for this comment????
Jay
Well, if you are still in CHDT than you are in the trinket business as well as generator and possibly the tile business!
Robin! Why, why did you do that? I would have gladly treated you to lunch! Dinner as well! Breakfast, well first you'd have to disclose as to whether you are married . . . .
West, you been looking through the window at my computer? We've almost the same portfolio of spec. plays. I can't say I've the fortune of having the size plays you have in the most of them but I'm right there with you on every play except for ACMG.
Jay
Yes, Etrade is good for that. If you don't execute an AON onan order they will damn sure hit you with charges for 2 trades. This is how it has been with an IRA account I manage for a sister. I've heard others say they don't get charged for 2 trades when this happens. Have you any experience with etrade and this situation?
One good way of looking at it is that it will only have to jump to .13 to have a 100% jump!!!!!LOL
It has been my experience the 'aquiring co.' always takes a hit. It looks like we are no different
If memory serves a grand total of 30K shares traded at .035 (quite the dump)after the MM's saw their chance to create 'panic selling' by not having an active bid to start the day. I'm just irritated that I didn't get any sold to me for .045. Tried but they wouldn't sell them to me.
JOH, I was caught up in the same mess! I have decided to sit on my 4M shares until hell freezes over or the price gets up to .01. My base is .0004 and no, as a Scottrade user myself I never received any handholding of any kind for their 'looking out for my interests'
J
IMT, I've been following and trading CHK for over 1.5 years and borrowing a phrase from Cramer on CNBC "I like CHK at $27." It is trading now for a few pennies over $29 and with NG falling as it is we may see it soon. However, with Dec. and Jan. futures contracts selling at over $8 I don't think if it dips to there that it will stay there long. CHK hedges its production pretty heavily. I like the Co., the Mgmt., and their long term plans!
Been watching it closely for a reentry point myself!
Silver, I see it coming before the election and stepping back abit from the chart and looking at the key stats. it is ready now at these Crude prices to start finding some stability. Yes, for some reason we find ourselves trading closer to NG prices than Crude, but today Chavez vowed to Castro to protect Iran from the US's advances. I didn't think Chavez would let these Crude prices slide much further than they have and I was actually expecting Iran to be the first to make a public move to sway the International price of Crude. Thus, watching Exxon stop its slide and find some support I'd say the rest of the energy sector will follow suit fairly soon.
I've been following and trading this stock since last September and with our current P/B and D/E ratios along with the control of future production and our financing arranged I think our future looks damn good at this level. Even if it dips another 15% we will see a nice jump before long showing us returning to the $1.50 area if the price of Crude jumps to former $70's.
This is all my opinion of course!!!!
I'll take that .11 action! Now ya want to bet whether I can get any or not? I'm still scratching my head, yes and elsewhere trying to understand who would dump 20K at that price!
Morning Folks, anyone have any idea what happened to our Sept. 18 drill dat at Mesa? And,have they not been able to unstuck that rig for our Texas play?
Yes, a very informative post Chauncy, thanks.
Would it then be a safe assumption that the decline in the stock price recently to todays .055 from say Aug. 22 where it was at .10 is somewhat attributable to the lack of financing to secure the drilling in MS.?
Yes, a very informative post Chauncy, thanks.
Would it then
Sentinel, I have read and reread the PR and I "DO" think it could very well mean 'inventory. Since an acquisition is the "act of acquiring or acquired or gained" as in 'added two new volumes to my libary' (ask.com)...JMO, of course. Howard has said the products were to be prepaid and I think CHDT is the party paying for them before they come to the US. Hell, I could be wrong and only time will tell I suppose. And, I don't see anything wrong with this program.
"Fire Sale" I like that! IMO this slide in Crude and NG along with the quiet period from the Co. has allowed the buyers to work the price down. I understand this. I too have been conservatively hitting the buy key, but hitting it none the less. I ask myself how much lower it will go before any productive news is released and usually cut my order in half before sending it thinking I might get them cheaper tomorrow. Therefore, I guess I'm playing into their game! Guilty, but still accumulating.
Jay
I hear ya Rig. Yes, crude has fallen 17% in the last 7 weeks and NG hasn't much footing what so ever. But!!!!! there are just to many shares being discarded for my liking
One has to wonder who is selling at these prices? Yes, crude and ng prices are falling, but who amongst us believes this is a long term trend? Iran said today it was considering stopping its nuclear program for two months (who amnongst believes this) while talks are going on. Lord, crude is still above $65 per barrel! Guess I'll have to see if the pps wants to go even lower. I'll dry some powder and be ready.
Jay
Yes, 100,000,000 would have been nice. However, the 20 M as Preferred will come close to covering that which he has loaned the Co. if the the worse case scenerio were to occur.
Stop in Kansas City and I'll have a minimum of 4 to load on landing!!!!!!!
Jay
Let it go down! I scaled down my MRO at $90 on the 28th of August and I'll start building her back up when Crude hits $62. The stock price should be down around $72 or $73 by then. EDEX, will do fine if we get a producer at Mesa. The fundamentals don't have much bearing down here in pennyland and the current dip in Crude is just that a dip. A buying opportunity if ya can catch her right after she turns back North! Same thing here. If people want to sell because Tom raised the OS level so be it. I just might whack at a bid or two come next week!
Have a nice weekend Low.
Jay
Missed your Porn Jag. I was out watching paint dry.
The energy stocks in general got hit pretty hard this week with Crude and NG prices sliding. I think, and I hope I'm wrong that we will see this stock fall off Monday. The masses are leaving the energy sector and we saw it here, not the mass exodus, but buyers were sure at a short. This ended with the tightest spread I've seen in quite some time and we still couldn't coax buyers into our stock. Are people afraid of the stock dillution? Maybe some, not enough for people to sell just not to buy.
I've no problem with Tom making some money, just his timing!
Have a nice weekend.
jay
Thanks, I like and agree with it!
That sounds somewhat like a recent Warren Buffet quote.
Yplate, Your question pertaining to 'how long is a long' in this stock IMO relates to success vs failure. I can't see any, or many at least holding on to a falling 'red hot pocker' if they can release it and minimize the burns. I'm long to see the bottom of this next hole. If it is wet (a producer)I'll stay to see more holes being drilled. If it isn't, well that's the oil business and I may or may not see more bits hit the dirt with Tom. There are a lot of 'wildcatters' out there and investors (speculators) confidence rides with hitting good producing wells. With EDEX Tom's charm and good or bad timing as to dillution is secondary to his hitting something (something a pump can be put on to make money) at the bottom of this next hole!
Just My Opinion of course as a long time oil speculator!
His timing is what concerns me Low. Although, as he probably assumed those of us wanting to see the bottom-of-the-hole will ride this dillution out.
We'll see in the next few days of trading as the word gets out how correct his assumption was!
What dillution are we speaking of? We've over 500M OS and I havn't seen more, has anyone else?
As is mine and a sisters!