RE:RE:RE:RE:RE:RE:Q3 report not as good...dividend in mid 2022 and not now
kavern23 wrote: Thanks Jay and I didn't mean to sound condescending or arrogant. I write so fast I don't proof read my tone or spelling.
No worries buddy I didn't take it a wrong way, I just see new participants on the board and don't want anyone looking at me as if I've picked this for a thing over others for anything more than a past dividend payout because at one time it was one of the top 3 payers. I remember VET was anouther option I was considering at the time.
I got in at what I thought was a good price on a 9.13% yeild and the price deteriorated by about 50% a couple weeks after my entry and a couple months later they cut me down to a 2.6% yeild and I was pretty much caught either taking a large loss or holding out hope that a lower cost, low decline producer would be one of the first to recover when oil did. Luckily in the past couple weeks I'm now above my original purchase price, now I just wish to get income coming in like I purchased this for. If I stay in long term and we get back to a quality pay rate then I've only lost a couple years due to poor timing on a long horizon. VET on the other hand is still at about 30% of the price I would have purchased at. As a bonus, I do now utilize margin in the account this is in so being above $5 this gives me options to borrow off, something I wasn't doing at the time of purchase.
If your looking for a O&G name to purchase don't ask me unless you like the colour red. But I can try and take numbers I understand and see if I can work some info out of them that makes sense. Sometimes I'm off or miss details tho.
I differ to Kavern and others when your looking for company values, expectations and comparisons on the sector in general as I have no oil background and limited understanding of the more intricate features that affect the value of these companies and have no understand of the properties. My main reason for buying CPG years ago when oil was in the middle of crashing was because they had a massive amount of land purchased, I thought that would be a catalyst for future growth, and I didn't see oil staying below $70/barrel long term after falling from 120s (I caught the falling knife at $60/barrel thinking it was a great deal), within the same week I bought BNE for similar reasons and that I wanted a gassy name. (Several months later at like $45/barrel I bought Twin Butte, but let's pretend I never brought that name up) These were my lessons in the sector and the biggest lesson learned, don't ignore unhealthy warning signs, it can get ugly and expensive VERY quick. Also understanding Stop-losses for a risky sector.