RE:RE:RE:RE:RE:RE:RE:Oh yee of little faithI poo poo on all kind of things all the time, if they deserve to be poo pooed.
No, i don't know if i can run the company better, personally, but then again, I'm not a ceo making millions a year to do so. That being said, seems like plenty of guys out there doing a better job.
As for MEG, I don't think they are geniuses at all, but obviously the street has alot more faith in that team over ATH.
This stock hasn't been up 500% since i sold it, because i still own shares in it..DUH
Have yourself a good day maxy boy. lol...looks like Eigen ain't the only guy on this board thats got their panties in bunch
Maxmoe wrote: LOL, so you cr@p on stocks you own or you don't own it, and haven't ever, or haven't for most of the last year? Ludichris, settle into your armchair. You think YOU or a different management team could run oil sands assets any better? Any differently? You think the guys at meg are geniuses? If there is any valid criticism it's that light oil is better than heavy oil. Doesn't make the management team any better or worse. They play with the cards they are dealt. Except in a Monday morning quarterback armchair, that's the way it works. Go poo poo another stock that's up 500% or more since you sold it.
Chris007 wrote: I have indeed been "poo pooing" ATH, because they deserve to be poo pooed. Are they a good and well run energy company? NO
Are they trading so cheap, that the value is hard to ignore? ABSOLUTELY
Maxmoe wrote: Um, no, never expected 5% rate. Nobody did. Stop trying to justify your poor decisions. Weren't you the guy that's been poo pooing ATH for the last year until it went up so much it became embarrassing for you? Disappear back to the SU board. Every oil stock has been a great investment. SU is a bargain as well. Way less torque ( aka upside), but way less downside if oil crashes again.
Chris007 wrote: No, I still own some ATH shares
Weren't you one of the guys in the 5% camp. Oh this is taking so long because they are getting the best deal (probably 5-7% range), record low interest rates, blah blah blah.
Would I buy o&g bonds for less than 10% coupon and equity sweetener...i just might if i was interested in junk bonds...even for junk bonds, thats a high yield...hell, plenty of other small-midcaps have been able to roll their debt for less onerous terms
Maxmoe wrote: Who said it was a "triumph" ?? You think you or anyone else could have got better terms? You just shooting your mouth off about something you don't own because you sold it at 50? Or less? Or never owned? Would you buy bonds paying 10% coupon for 5 years with no equity kicker? You better stick with SU and Bell.
Chris007 wrote: LOL...i would hardly call this refinance a "triumph"...
Maxmoe wrote: Yes ATH is a high torque call on oil. Yes it has a big debt issue coming due fast. Yes, nobody would lend them money at typical commercial terms 5 years ago. That's why the current debt is $USD bonds that trade on a 3rd tier german exchange or by appointment only on private exchanges in North America. I know because I frantically, angrily tried to buy the bonds at 18 all the way to 40 and settled on just buying more stock November 4th at 11 cents. So nobody will offer traditional commercial debt to ATH this year either. No surprise. Owning debt in ATH, a high torque producer which proved how vulnerable it is to low oil prices, is akin to making an equity bet in terms of risk. So debt investors can demand whatever they want to compensate for the "equity like" risk they are taking on. Why not ask for some equity sweetener? It's not at all uncommon. I've not seen a lot of cashless warrants, but it's very common to see warrants attached to a debt issue. Why cashless? Because ATH does not the 94 cents in cash from the warrant exercise. Now or ever. For the debt buyers, they are indifferent. Cashless or not they get a piece of upside above the exercise price. They aren't "gifted" a piece of the company but rather than exercise at 94 warrants and sell the stock, the company is effectively creating the market for the exercise and sale and buyback of the newly issued shares all in one "simple" step. The message from ATH is "we don't need any cash", "we have surplus cash".