Post by
MikeOxLong7 on Nov 07, 2013 10:39am
Down on WCS news?
We are down over 5%! I expect this is due to news of the expanding differential? With the capacity to rail 75% of production PXL isn't reliant on WCS prices anymore! I guess that is the short term irrationality of the markets. Buying opportunity.
Comment by
roscoe74 on Nov 08, 2013 1:17pm
More likely just down on general market sentiment. With a cashflow per share of $.31, this little engine that could will eventually take off if management continues to execute well.
Comment by
corvette67 on Nov 08, 2013 1:38pm
IMO, it may have more to do with the upcoming 3rd qtr report. I dumped 90% of my position in the mid 60's after the second qtr report and loss of 5mil and am expecting another significant loss. We will all know soon.GLTA
Comment by
roscoe74 on Nov 08, 2013 2:42pm
yes, but their update ahead of 3Q13 news has blunted the bad news. I'm more concerned about their balance sheet strength and cash flow than earnings. A little outfit like PXL can suffer greatly from a single negative incident that, to a larger concern is a mere rounding error. Management execution is critical here. I'm more interested in what they do not say than what they do.
Comment by
corvette67 on Nov 10, 2013 10:19am
Unfortunately if the 3rd qtr is as bad or worse than the update, it will take another hit. That's just reality. Fortunately, i have only several thousand left which is for sale. If it takes another hit, i will average down in the 40's. GLTA
Comment by
MikeOxLong7 on Nov 13, 2013 9:18am
If it falls into the 40s I'll be averaging down with you. The most important number in the next update for me is current production and if they are on pace to meet the 2013 exit production target. With the higher netbacks of rail and the new oil treatment facility I'm not concerned with the diff but the heavies should start trending upwards after it starts narrowing again.