RE:Quality of this board has gone to hell.
ya right! it's so compelling that not one insider has bought 1 single share in this downdraft.
lets see what their free cash flow is, IF they have any at this point.
lets she what this quarterly report tells us?? do we end up close too 800mil debt?? how much are all these work overs really costing iae??
you are looking at a possible financial crisis in europe, this is real and if it happens it WILL affect iae's debt and ability to borrow.
iae's future rests with the price of oil when stella starts producing. no one can predict what that price will be. this is assuming their are no more glitches along the way.
compelling buy here?? maybe, but only for people who can afford to lose all their investment in iae. I went thru the whole oilexco procedure and made a lot of money on that stock. a lot of knowledgeable people lost a lot because they fell in love with it and couldn't see the what was really going on. they hit the perfect storm, if oil didn't crash and the financial crisis didn't hit oileco would have been a multi billion dollar company producing a ton of oil. they had too much debt and tried to do too much too fast
don't forget stella is not a long term asset, they will need to spend a lot of that cash flow to find something else to spend a lot of money on. the economics in the north sea are not what they used to be.
and YES, iae could quite possibly blow itself up. I'm 99% sure they will show a loss this quarter and will need to use a fair bit of that debt facility they have left.
I look forward to hearing any info your your friend can gather in gdansk.
someone needed to be the anti crow and debeauty so i took the job, lol. do I go to far??? sometimes, but only because they do. lots of people reading these bs bb's actually make investment decisions based on what's said in here, which is sad. i do believe you need to see both sides of the equation.
cheers ferret
ps too much time on my hands these days soooo here i am, LMAO