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Re: value1008 post# 582

Thursday, 08/28/2014 4:10:56 PM

Thursday, August 28, 2014 4:10:56 PM

Post# of 591
Hi Value1008:

I am long a considerable amount and plan to hold for many years unless the long term prospects change.

The main weakness and of course the real reason for the dividend cut is the pipeline losses north of 25% versus the 10 - 13% range. In effect they were using the loan to pay the dividend some quarters.

Today's weakness, no idea why.

Risk is always the bunkering, especially to the new pipeline. Knowing Nigeria we could have another month or 3 delay in the new pipeline BUT we should have an update the 2nd week of September (I'm guessing on this).

I'll trust management to continue to grow the business and it will filter to the shareholders. I don't expect another cut unless there is a further hit to their cash flow from pipeline losses.


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