Replies to post #8239 on GUERILLA INVESTING FOR DUMMIES

[mattchew]

Radio broadcast from mav5x5, Top Gun Trading!
http://www.blogtalkradio.com/topguntradingradio

[mattchew]

HYHY, while it looks promising, it is currently a one man operation and short on cash, in a nut shell, according to their SEC filings!
Take profits and run?

[mattchew]

AHT
During the fourth quarter of 2008, Ashford Hospitality Trust, Inc. (the “Company”) repurchased 23,436,236 shares of the Company’s common stock, 114,500 shares of the Company’s Series A preferred stock, and 1,605,653 shares of the Company’s Series D preferred stock. These share repurchases completed the Company’s previously announced stock and debt repurchase plan. At the close of the fourth quarter for 2008, there were (i) 86,555,249 shares of common stock, $0.01 par value, outstanding, (ii) 2,185,500 shares of Series A Cumulative Preferred Stock, $0.01 par value, outstanding, (iii) 6,394,347 shares of Series D Cumulative Preferred Stock, $0.01 par value, outstanding, and (iv) 7,447,865 shares of Series B-1 Cumulative Convertible Redeemable Preferred Stock, $0.01 par value, outstanding. In addition, as of the close of the fourth quarter for 2008, there were 14,392,843 operating partnership units outstanding in Ashford Hospitality Limited Partnership, the Company’s operating partnership, convertible into common stock of the Company.
On January 15, 2009, the Company’s Board of Directors, authorized an additional $200 million repurchase plan authority (excluding fees, commissions and all other ancillary expenses) for: (i) the repurchase of shares of the Company’s common stock, Series A preferred stock, Series B-1 preferred stock and Series D preferred stock and/or (ii) the prepayment of outstanding debt obligations of the Company and its subsidiaries, including debt secured by the Company’s hotel assets and debt senior to the Company’s mezzanine or B-Note loan investments.
The Company intends to fund any repurchases or prepayments with the net proceeds from asset sales, cash flow from operations, existing cash on the balance sheet, repayment of loans made to third parties and other sources. Repurchases of securities under this program will be made through the open market, or in privately negotiated transactions, from time to time in accordance with applicable laws and regulations. The manner, timing and amount of repurchases and repayments, if any, will be determined by the Company’s management and will depend on a variety of factors, including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements. The repurchase and repayment program may be modified or discontinued at any time. Repurchases of common and preferred stock may be made under a Rule 10b5-1 plan, and in the case of repurchase of common stock will be compliant with Rule 10b-18 of the Securities Exchange Act of 1934. Debt prepayments, if any, will occur from time to time, and will be subject to market conditions and negotiation with the Company’s current credit providers. While this repurchase program includes repurchases of the Company’s outstanding securities, it is not intended to be a going private transaction, and the Company will limit repurchases of securities such that, in no event, will this program have that effect.

[mattchew]

AHT
DALLAS — (January 20, 2009) — Ashford Hospitality Trust, Inc. (NYSE: AHT) today announced its preliminary expectations for RevPAR, Adjusted Funds from Operations and Cash Available for Distribution for the year ended December 31, 2008.
The Company expects to report a decline of 2.0% in RevPAR for all hotels for the year ended December 31, 2008, and a decline of 8.8% in RevPAR for the fourth quarter of 2008. Not including nonrecurring items which include severance payments, gains or losses on asset values, one-time finance charges, etc., Ashford also expects to report AFFO of approximately $1.29 to $1.33 per diluted share and CAD of approximately $1.00 to $1.04 per diluted share for the year compared with $1.28 per diluted share and $1.01 per diluted share, respectively in 2007.
Commenting on the announcement, Monty J. Bennett, Ashford’s President and CEO, stated, “Although it remains our policy to refrain from guidance, we are releasing expectations for 2008 key performance measures earlier than normal. We determined that the significant favorable variance in our expected performance relative to the consensus opinion on our 2008 results warranted market awareness. Also, providing the market with an earlier update on our performance makes sense particularly at this unique time when there is limited industry operating visibility and given the lag in traditional reporting periods for us at year end. These results indicate our strategies are working to offset unprecedented lodging industry challenges.
“Our AFFO and CAD performance is directly related to our pre-emptive capital markets moves to reduce interest expense by swapping virtually all of our debt to floating LIBOR rates. Asset management strategies continue to drive bottom line performance to maintain margins as best as possible. The diversity of our assets by location and price segment is further assisted by our strong brand affiliations to perform better than the overall industry. With approximately $195 million cash on hand, just $29 million in hard debt maturities in 2009, low interest rates as result of our swap to floating and the recent restructure of the revolving credit facility, we believe we have sufficient liquidity based upon our operating projections and better covenant capacity to operate in this challenging market. We continue to manage aggressively in all areas of our business.”

[mattchew]

ANAD lawsuit and lots of form 4`s
I don`t know what to make of it, so there are plenty of other fish in the sea!

[mattchew]

CBB, 18 form 4 filed since dec, see alot of options exercised.
No "bad News" filed, as of late.

[mattchew]

CFW
Cano Petroleum (NYSE Alternext:CFW) announced today that it recently settled the pending lawsuit with Southwestern Public Service Company d/b/a Xcel Energy, Inc. related to wildfires that occurred in the Texas Panhandle in March 2006. While the terms of the settlement were not disclosed, the result will be the dismissal of this case, which previously was set for trial on February 23, 2009 in Carson County, Texas.

Cano Petroleum (NYSE Alternext:CFW) announces the results of the voting at its Annual Stockholder Meeting held on January 9, 2009 in Fort Worth, Texas.

Results of the Annual Stockholder Meeting

The stockholders elected S. Jeffrey Johnson, Randall Boyd, Robert L. Gaudin, Donald W. Niemiec, William O. Powell, III, Garrett Smith and David Wehlmann to the Board of Directors. Each will serve for a term of one (1) year and shall hold office until their successors are elected and qualified.

The stockholders approved the 2008 Annual Incentive Plan.

The stockholders also ratified the appointment of Hein & Associates, LLP as the Company's independent registered public accounting firm for the fiscal year ending June 30, 2009.

[mattchew]

ENT
Calgary, Alberta – (Marketwire – January 7, 2009) Enterra Energy Trust (“Enterra”) provides clarification on the 2009 guidance issued on November 18, 2008, in light of current commodity prices.

“As communicated to our unitholders in November, our objective is to execute a conservative business plan aimed at replacing our reserve volumes in 2009,” said Don Klapko, Enterra’s President and CEO. “However, recent erosion in commodity prices may limit our flexibility to pursue the full capital budget that was announced. It is our intention to fund any capital program from operating cash flow and not to increase debt. We continue to monitor oil and gas prices and exchange rates closely and will curtail, modify or postpone our capital spending and operational plans as necessary to live within our financial means. We are also considering alternative investment opportunities to add to unitholder value in addition to our conventional drilling program.”

Enterra was able to achieve its key goal of strengthening it’s balance sheet in 2008 through conservative cash management and debt repayment while maintaining a modest capital reinvestment program. For 2009, Enterra’s budget and operational approach announced in November was based on commodity pricing assumptions which were similar to forward prices available at the time, and which Enterra considered to be reasonable. Recent commodity prices have been substantially lower than these assumptions; particularly the benchmark West Texas Intermediate oil, which has recently traded below US$40 per barrel compared with Enterra’s budget forecast of US$70 per barrel. Enterra will maintain its conservative approach during 2009 and will monitor market circumstances and commodity prices continuously and will adjust its priorities accordingly.

[mattchew]

ENT
Calgary, Alberta – (Marketwire – November 14, 2008) Enterra Energy Trust (“Enterra” or the “Trust”) announces its financial and operating results for the three and nine months ended September 30, 2008.

“We made tremendous progress on reducing our debt during the quarter,” commented Blaine Boerchers, Enterra’s Chief Financial Officer. “We were successful in keeping our production steady and achieved 100 percent drilling success during the quarter. The improvement in our financial strength during 2008 will provide us with more financial flexibility to manage through the current volatile economic and financial market conditions.”

Q3 2008 Significant Accomplishments

·

Reduction of total bank debt in the quarter by $31.3 million to $102.8 million, for a total decrease of $69.2 million since the beginning of 2008

·

Funds from operations for the quarter were $27.9 million and $83.7 million for nine months

·

Average production of 10,117 boe per day, better than previous target

·

Drilled seven liquids-rich gas wells in Oklahoma with 100 percent success

In the third quarter 2008, Enterra reported net income of $14.9 million ($0.23 per unit), compared to a net loss of $47.7 million ($0.78 per unit) in the same period last year. The Trust’s funds from operations totalled $27.9 million during the quarter, which is an increase of 29 percent over the same period last year. The increase in funds from operations is primarily the result of higher commodity prices realized.

Capital expenditures during the quarter were $13.7 million. Enterra participated in the drilling of seven (1.6 net) wells in Oklahoma. The wells were liquids-rich natural gas wells which were 100 percent successful. All seven wells have been completed and are in the early dewatering stages.

The Trust recorded a provision for non-recoverable receivables for the full amount owed by SemGroup L.P. of $9.1 million with a corresponding decrease to net income ($6.7 million net of tax). Management believes that some portion of the $9.1 million may be recoverable; however, that amount cannot be determined at this time and therefore an allowance for the full amount has been recorded.




In light of current market uncertainty, Enterra’s management and board of directors have decided not to reintroduce any distribution payments for the balance of 2008. Instead, it was determined that the best use of excess cash flow available to the Trust will be towards further debt reduction. Enterra’s priority remains the maintenance of the maximum financial flexibility possible, while also continuing to reinvest conservatively to preserve and grow the underlying value of the Trust’s assets. Enterra intends to announce specific strategies and targets for 2009 by the end of November.





Third Quarter Summary




Three months ended

September 30



2008
2007
Change

Average sales volume (boe/day)
10,117
12,798
(21%)

Revenues (1) (in thousands)
$68,026
$57,677
18%

Funds from operations (2) (in thousands)
$27,865
$21,592
29%

Net Income (loss) per unit
$0.23
$(0.78)
N/A

Average sales price realized per boe
$73.09
$48.99
49%

Royalties per boe
$19.19
$8.00
140%

Production expense per boe
$16.64
$13.90
20%

Transportation expense per boe
$0.28
$0.27
4%

Operating netback (2) per boe
$36.98
$26.82
38%

G&A expense per boe
$3.79
$3.79
-

Cash interest expense per boe
$3.82
$4.86
(21%)

Other cash costs
(0.57)
(0.17)
N/A

Cash flow netback (2) per boe
$29.94
$18.34
61%


(1)

Excludes unrealized mark to market gain or loss.

(2)

Funds from operations, operating netback and cash flow netback are non-GAAP financial measures. Refer to “Non-GAAP Terms” in the Trust’s Management’s Discussion and Analysis (“MD&A”).



Revised 2008 Outlook

—

Enterra continues to target 100 percent replacement of reserves produced in 2008. However, low commodity prices at year end compared with pricing levels seen during much of 2008 may lead to a lower reserve life across Enterra’s portfolio and make this target challenging to achieve.

—

Average daily production target for 2008 is in the range of 9,700 - 10,300 boe per day (an increase of 500 boe per day from previous guidance), with a year end exit rate of between 9,600 - 10,100 boe per day (an increase of 600 boe per day from previous guidance).

—

2008 capital program is revised upward from previously announced $38 million budget to $43 million.

—

During the fourth quarter of 2008, the Trust anticipates drilling 15 wells (7.2 net), in addition to the 26 (9.5 net) wells drilled year-to-date.

—

Objective to achieve a bank debt level of between $95 million and $100 million drawn on $135 million senior credit facility by year end.

The Trust’s complete unaudited consolidated financial statements, accompanying notes and MD&A for the quarter are available on Enterra's website at www.enterraenergy.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Enterra will host a conference call and webcast Tuesday, November 18, 2008 at 9:00 a.m. MT (11:00 a.m. ET) to discuss the Trust’s third quarter 2008 results. To access the call, please dial 866-225-6564 or 416-641-6119. A live audio webcast of the conference call will be available on the home page of Enterra’s website at www.enterraenergy.com. A replay of the conference call will be available until 11:59 p.m. MT, November 25, 2008. The replay may be accessed on Enterra’s website in the Investor Relations section, or by dialing 800-408-3053 or 416-695-5800, followed by passcode 3274574#.

About Enterra Energy Trust

Enterra is an exploration and production oil and gas trust based in Calgary, Alberta, Canada with its United States operations office located in Oklahoma City, Oklahoma. Enterra’s trust units are listed on the Toronto Stock Exchange (ENT.UN) and the New York Stock Exchange (ENT). The Trust portfolio of oil and gas properties is geographically diversified with producing properties located principally in Alberta, British Columbia, Saskatchewan and Oklahoma. Production is comprised of approximately 63 percent natural gas and 37 percent crude oil and natural gas liquids. Enterra has compiled a multi-year drilling inventory for its properties.

Barrels of Oil Equivalent

Barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Forward-Looking Statements

Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "seeks" and similar expressions. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas production; marketing and transportation; loss of markets; volatility of commodity prices; currency and interest rate fluctuations; imprecision of reserve estimates; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions or dispositions; inability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to income tax, environmental laws and regulatory matters. Readers are cautioned that the foregoing list of factors is not exhaustive.

[mattchew]

IO
S&P Revises Outlk On Ion Geophysical To Negative From Stable

ION Delivers Initial Commercial Version of FireFly Land Seismic System
Friday 01/16/2009 7:00 AM ET - Pr Newswire

ION Geophysical Corporation (NYSE: IO) today announced that it has delivered a multi-thousand station FireFly(R) system equipped with digital, full-wave VectorSeis(R) sensors to one of the world's largest seismic contractors. The deployment of ION's first commercialized FireFly system is taking place in a producing hydrocarbon basin containing reservoirs that have proven difficult to image with conventional seismic techniques.

Bob Peebler, ION's CEO, commented, "We originally planned to commercialize our FireFly system in North America to be closer to our technology centers, but those plans were altered due to the significant slowdown in seismic activity among our U.S. and Canadian contractor customers. I'm delighted that we were able to adjust our plans so quickly and deliver our first commercial system to a long-standing customer with a global operating footprint. We will reveal more information on the specifics of this transaction after the first survey has been completed. We are very excited to be entering full commercialization with such an important customer. I should also add that business development activities related to FireFly are still underway in North America, though we are shifting our business model to also include rental and leasing options for known and well-financed customers. This change allows us to take advantage of ARAM's existing North American rental operation, complement our traditional business model of 'cash and carry' purchases, and expand the pool of customers who wouldn't otherwise be able to shoot FireFly surveys in the current economic climate."

[mattchew]

IO


HOUSTON – January 8, 2009 – ION Geophysical Corporation (NYSE: IO) (“ION”) announced today that after a preliminary review of its fourth quarter financial results, which are anticipated to include one-time and restructuring charges, it expects to report fourth quarter revenues of approximately $145 million to $165 million. This compares to revenues of $209.4 million for the fourth quarter of 2007. As a result, ION now expects 2008 consolidated revenues to range between $685 and $705 million.
Robert Peebler, Chief Executive Officer of ION, added, “Due to the faster than expected slowdown in the North American and Russian energy markets during the fourth quarter that have impacted ION’s land systems business and slower than expected year-end data library sales, we expect to report 2008 revenues and earnings that will fall below our original 2008 guidance we provided in December 2007.
“It is disappointing but not totally surprising that we generated lower than anticipated fourth quarter financial results due to the nearly complete shutdown of the credit markets with its resulting impact on the global economy and the collapse of both oil and natural gas prices. All of this has created a great amount of uncertainty regarding many energy companies’ capital spending plans and a very conservative response by many of our contractor customers.
“Overall, U.S. and Russia land systems business and year end data library sales are the main areas of weakness that caused us to miss our 2008 revenue and earnings guidance. Our marine systems, geophone, data processing, and new venture activities finished the year very close to what we expected. The pipeline for our Span libraries remains solid, and our customers have indicated to us that most of what was not closed

[mattchew]

IO

S&P Analyst Research Notes and other Company News
January 8, 2009
DOWN 1.41 to 2.76... IO forecasts Q4 '08 revenues of $145M-$165M, compared
with $209.4M for Q4 '07, and says it expects its Q4 '08 earnings to include
one-time and restructuring charges. As a result of this guidance, now sees '08
consolidated revenues of $685M-$705M.
December 8, 2008
ION Geophysical Corporation announced the appointment of G. Thomas Marsh
and Nick G. Vlahakis to its Board of Directors. Marsh, age 65, retired in 2006 as
Executive Vice President, Lockheed Martin Space Systems Company. He most
recently in the position of President, Manned Space Systems. Vlahakis, age 60,
retired in 2005 as Executive Vice President and Chief Operating Officer with
Alliant Techsystems Inc. (ATK).
December 5, 2008
ION Geophysical Corporation announced that the ION Board of Directors has
appointed Jim Hollis as President and Chief Operating Officer. In his new position,
Hollis will oversee all operations of the Company, including all business units,
sales and manufacturing. Hollis will report to Bob Peebler, who will continue as
the Company's Chief Executive Officer. In his previous role as Executive Vice
President and Chief Operating Officer of ION Solutions, Hollis, age 47, was
responsible for four of ION's business units--Full-wave Land (FireFly(R)), Seabed,
GXT Imaging, and Integrated Seismic Solutions.
November 5, 2008
ION Geophysical Corporation reported earnings results for the third quarter and
nine months ended September 30, 2008. For the quarter, the company reported
net income of $24.9 million, or $0.25 per diluted share, on revenues of $218.5
million compared to net income of $12.6 million, or $0.14 per diluted share, on
revenues of $173.6 million for the same period a year ago. Total revenues in the
third quarter increased 26% to $218.5 million compared to $173.6 million a year
ago. The increased revenues were the results of strong sales in all of the
Company's segments, including Marine Imaging Systems, Land Imaging Systems
and ION Solutions. Adjusted EBITDA for the third quarter doubled to $69.6 million
compared to $34.3 million in the third quarter of 2007. For the first nine months of
2008 consolidated revenue increased 7% to $539.4 million compared to $503.8
million for the same period in 2007. For the first nine months of 2008, the Company
reported net income of $48.0 million, or $0.49 per diluted share, compared to net
income of $22.8 million, or $0.26 per diluted share, in 2007. Adjusted EBITDA for
the period was $145.4 million compared to $75.9 million in 2007. The company
provided earnings guidance for the year 2008. The company expect 2008
consolidated revenues to range between $780 and $830 million and earnings to be
between $0.70 and $0.80 per diluted share.
August 19, 2008
ION Geophysical Corporation announced that Sam K. Smith will retire from the
Board of Directors effective August 18, 2008. Mr. Smith joined the ION Board of
Directors in 1999, served as the company's Chief Executive Officer from 1999 until
2000, and has served on the Compensation Committee of the Board since 2005.
The Board of Directors intends to appoint a new Board member to replace Mr.
Smith over the next few months.
August 7, 2008
ION Geophysical Corporation reported earnings results for the second quarter
and six months ended June 30, 2008. For the quarter, the company reported net
income applicable to common shares was $15.44 million, or $0.16 per diluted
share, on revenues of $180.66 million compared to net income applicable to
common shares was $7.07 million, or $0.08 per diluted share, on revenues of
$165.15 million for the same period a year ago. Net income was $16.3 million
against $7.7 million for the same period a year ago. For the six months, the
company reported net income applicable to common shares was $23.07 million,
or $0.24 per diluted share, on revenues of $320.8 million compared to net income
applicable to common shares of $10.15 million, or $0.12 per diluted share, on
revenues of $330.2 million for the same period a year ago. Net income was $25
million against $11.3 million for the same period a year ago. The company
reiterating the earnings guidance for the full year of 2008. The company expects
2008 consolidated revenues to range between $780 and $830 million and earnings
to be between $0.70 and $0.85 per diluted share.
May 7, 2008
ION Geophysical Corporation reported earnings results for the first quarter ended
March 31, 2008. The company reported first quarter 2008 net income of $7.6
million, or $0.08 per diluted share, on revenues of $140.2 million compared to net
income of $3.1 million, or $0.04 per diluted share, on revenues of $165.0 million for
the same period a year ago. Revenues for the first quarter of 2007 included the
first system sale of FireFly(R) for $20.8 million and the balance of the third
VectorSeis(R) Ocean (VSO) system sale to Reservoir Exploration Technology,
ASA (RXT) for $15.0 million. Excluding the $36 million impact of these two large
sales, the first quarter 2008 revenues increased 9% to $140.2 million compared to
$129.2 million for the first quarter of 2007. The company reiterated the earnings
guidance for the year 2008. The company expects 2008 consolidated revenues to
range between $780 and $830 million and earnings to be between $0.70 and $0.85
per diluted share.
February 21, 2008
Posts $0.18 vs. $0.15 Q4 EPS (GAAP) on 26% higher revenue. Backs its previously
issued '08 guidance of $0.70-$0.85 EPS on $780M-$830M revenue.
Quantitative Stock Report
ION Geophysical Jan 17,2009
NYSE SYMBOL:IO
S&P Quality Ranking: B- Standard & Poor's Fair Value Rank : NR
Source: S