RE:the eric effectoh right, reic,, forgot to say in my last post.. you followed eric before doing dd?
eric was the dope that got fleeced with a special frc sand investment he made, turned out to be some rip off.. yep eric, the patch knows him well
I like the part about privatizing in so many years, he uses that line a lot. The dope, if they do not spend up to sustaining capital the wells decline so fast, you do not get that same cf year on year like he uses in his stupid idea of not re-investing but miliing thre fields.
seriously he never worked a day in the patch, reads his annual reports and reserve reports obviously but he cannot get the going forward part on running a company. You cannot think of stopping drilling to privatize in 3 years cause that cf year on year drops 40%! if ya do not sustain it thru new wells.
so think guys, he basic idea is they got the cf to buy back their shares in 3 years... NO they do NOT! gawd what a silly guy.. remember the frac sand joke.. what turnip would think trian loads of Texas sand was a good idea for fracing? the cost? not the rail capacity anyway, he bought in cause he is a dope. some guy gonna sell us on special sand, when local sourced sand works and is cheap.. nope he knows better, some dd he did there ha? with others money too.. and
when he is under performing he bets biggher like on GXE it is too small, although the swollen share count allows him. But this is a bet, heavy oil and a smattering of rather mondane assets over two provnces and a thousand miles. not usually do I find small heavy oilers to make big returns but do remeber lots of them going under last few years. GXE survived, they are better than most. assets are not attractive tho imo
nice price