RE:In Tonight's Stockwatch Energy Summarybxju wrote: Mr. Macqueen's interview was headlined "Analyst who called Pacific E&P crash has a new Colombia oil bet." Pacific E&P is Pacific Exploration & Production Corp. (PRE: $0.64, halted), which was trading between $15 and $17 in February, 2014, the month that Mr. Macqueen first told investors to sell it on concerns about its production in Colombia and its weakening balance sheet. Twenty-four other analysts had "buy" recommendations at the time, says Bloomberg. Mr. Macqueen's timing on the sell recommendation was not perfect -- the stock rose to a high of nearly $24 in mid-2014 -- but investors who did sell are no doubt happier than those who watched the stock plummet to its currently halted level of just 64 cents. The stock was halted on Tuesday (and then suspended ahead of a probable delisting next month) after Pacific reached a restructuring agreement that will see its lenders and a new financial backer receive 100 per cent of its equity, leaving existing shareholders in the cold. Pacific moved the process along today by announcing definitive support agreements with the lenders and the backer. The restructuring is expected to close by the end of next quarter. Then the bondholders, as the new owners, will have some decisions to make. Scotia analyst Mr. Wylie (mentioned above) speculates that a "possible path forward may be to move the company private while the new board is elected and reviews the existing operations, senior management team and commodity outlook before: (i) trading the company OTC [over the counter]; (ii) relisting on the TSX along with a share consolidation; or (iii) selling the company outright."
for this reason I don't believe these "analyst".. when they call me my first question is : if you are so good why are still working??? you should be millionaire ..and they don't like believe me