RE:RE:RE:RE:RE:Topped up today
one reason nutbar is at sprott is because is married to sprotts daughter
nutbar himself said he went all in in a recent interview and he was actually quite embarrassed and humbled by his move , i saw the interview, not on marketcall, but on bnn. he said he had his worst month ever and was too embarassed to say how much he was down. he sounded and looked a wee bit helpless and desperate, I have never seen him look and act like that before.
I used to be a nutbar fan and still listen to him but he is a bit too flighty and impulsive from what i have seen lately of him. he has some good ideas but also a lot of bad ones you really have to do your own research.
the fact is the banks DEMAND these hedges for insurance on their loans. we are now in a situtation where the strip makes it pretty much impossible to make a worthwhile hedge. as hedges come off many companies will fail, this spring will be real fugly in this sector if somekind of a rebound hasn't begun, or at least forward contracts move up a fair bit.
I said if iae breaks covenants this spring, not likely but possible, I believe that will be the end of them. as for your takeover idea, forgetaboutit, lol. no one wnats to buy expensive north sea production. don't forget cheveron discovered stella many years ago and walked away from it because it wasn't big enough for a major to develop. i don't see any intermemdiate beeing interested either. this company is burnt toast imho and the market is also telling you that!
cheers ferret