Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:RE:RE:RE:RE:RE:RE:RE:RE:Husky Energy cuts 2020 budget by $1-billion

[mrbb]

it's mighty brave of hse's BOD to double up their crime by 'stripping' 65% of midstream asset  in the midst of SEC investigation for 'reserve and accounting fraud' so you claimed. 

you always spin the deal as a theft and never talk about how husky reduced their debt with the cash injection, and prevented a bond rating downgrade which only HSE and IMO avoided at those time.  A bond rating downgrade mean borrowing cost goes up.

Scottie99 wrote: Not sure if your analogy applies and would not try to make this about the Chinese scooping up Canadian companies for peanuts couple of years back.

It just so happen that the Board stripped the mid-stream assets to LKS about the time the SEC commenced fraud investigation of the company. So LKS was informed about the SEC investigating the company, the Board wants to take a significant writedown and suspend the dividend. So they worked out a scheme to strip some assets to LKS without minority approval and without informing the investing public they are under SEC investigation. So tell us how your analogy compare to the insider buying by LKS that took place with the connivance of his handpicked Board!

Nice try and hope your analogy comforts minority shareholders that have lost (300M x (20-3)) of their hard earned money to date!
 

mrbb wrote:

Yes, i had tussled with scottie99 since day 1. He has been calling me a hse pumper, spinner, kool aid drinker, paid LKS troll, etc   Only idiots think any poster in this puny forum gonna make a differnce in the market.  

I had glanced at twin butte forum and scottie was rooting to fight the chinese owners on the liquidation while others twin butte posters rather settle for the leftover. I'm sure the twin butte chinese owners weren't fair to the shareholders but most knew scottie's stance is a losing position. What i know is LKS isn't like the other chinese money that came from the commie china who were just laudering money into canada: real estate, casino, oil/gas companies, fentanyl, etc who don't give a sheet about canada. Husky has dedicated funding program to abandon wells and oil facilities, make donation to communities, stick to canadian HR and health/safety laws,just like other big oil players.  On the 65% midstream sold to lks, I think scottie is chasing another dragon tail.  He might have a point on a the spirit of the law but does it warrant a criminal charge?

Here is my simple analogy: i'm thirsty and in a hurry, i went into store and pick up 1 liter of water priced at $1.99.  I'm grab it, plunk down my toonie at the customer service counter and rush out the store. I didn't go through the cashier, i didn't get a receipt, i didn't even  talk to customer service counter agent or anyone. So did i stole the 1 liter bottle of water? Do i deserve to be arrested? In scottie's eye, i didn't go throught formal routine to wait in line, pay the cashier, get a receipt. Basically this is what scottie goodie 2 shoes is all about. 

 

oilandgasmick wrote: Thanks MRBB-- now I see what this rage is all about. How childish --and its directed at people who had nothing to do with Twin Butte.

On another note, I was watching BNN this morning and an analyst (forgot the name) said that the 4 survivors in the patch would be Su, Arx, Cnq and Cve with no mention of Husky.

However, I would take note of the fact that CNQ has 20B of debt and CVE still has almost 7B of debt. HSE is now in a position where no major chunks of debt are due until 2022. The price war should be over by then.