Reply Touchdown12 & Gonatgasgotouchdown12 wrote:
You can be cautious AND optomistic at the same time. yet optomistic the co. can navigate the challenges i feel cautious about to success. Those cautious factors can be macro or micro in nature. I often get rewarded for a point of view that is both.
Hello again Mr. touchdown, always a pleasure. I completely understand where you're coming & what you're tyrying to get across my friend, BUT there's a very deep & important lesson to be learned here. And it's the following. Sure, you can play it safe if you want & insulate yourself completely from every form of risk, BUT there's a heavy price to be paid by doing so. I think it's best explained by this famous proverb or saying which imo accurstely describes Crew's situation or there lack of. it goes like this "Fortune favors the BRAVE or the BOLD". Something that Crew unfortunately never embraced. Even when it was evident to do so. and by this i mean taking risks or just doing simple, low hanging fruit things like avoiding destructive hedges & paying down debt. They did zero of that!
Those that took risks in this environment, flourished and became much stronger & positioned themsleves in a much more solid footing. This situation we find ourselves in wasn't that hard to predict, for which was foreseen by almost everyone, even the most ignorant & not very knowledgeable of folks. So Crew being in the industry for decades should have known better. For those that didn't take any chances, well.....you get the picture.
"2 years ago when many of us were buying CR at .25-.50 cents/share) Just wanted to provide a contrast to your conclusions."
Of course i remember that "time" very well, as if it were just yesterday. Begging people, on this very forum, to take a look at Crew (AND BUY!) when it tumbled to those lows. Myself taking the BIG plunge around 0.15, which was an absolute steal! So congrats to all those of you like Touchdown that did! Especially if you continued to hold on through those two years.
gonatgasgo wrote:
"Crew's debt level stayed high for a long time because they decided to grow rather than paying down the debt. A risky move, but with the benefit of hindsight, that was the right thing to do. Look at a firm like Kelt who paid down the debt early and quickly. Crew has outperformed by a lot."
Sir, we haven't seen eye to eye lately and you've been highly critical of my enlightening posts on this board, to the point of being bashed for no reason aside from having an opposing view to yours or correcting some factual mistakes yourself or others. But in this case i will respond to you, as your reply here has been at least cordial. But this doesn't change the fact that you see the glass half full with Crew, whereas i see the glass half empty. As is the case right here.
You see, Crew didn't take ANY risks here, that's the problem. They didn't even bother to seriously par down debt because of a total lack of willingness to do so & a financial inability due to mismanagement issues. Being compared to Kelt is the problem here and for which you don't full understand. Maybe you probably do but don't want to admit it. But comparing Crew to Kelt isn't the way to inpsire confidence in investors or show Crew in a good light. Kelt made their choice and have payed for it. Not because of the choices they made, but because of failure to follow through with a well though out plan.
"As for the hedges, I wish there were much fewer. Crew would say it is risk management, and I could see their point when they were highly leveraged."
You see this is the problem. You recognize the intial problem but then you just fail to completely admit there's an issue here and instead you quickly try to justify or rationalize their bad decisions with suppositions. At least your half way there........ which is ecouraging in its own right.
"I am not convinced the future looks dark for oil and especially gas producers."
And i didn't indicate that either.....at least not anytime soon anyway. BUT there was an extremely rare window of opportunity they missed, a once in a lifetime type of opportunity, which could have been a game changer for the company & its s/h if they were willing to take only "some" minor risks.
GLTA