Bridge Resources Corp V.BUK

Im outta this dog...

[Toasted2]

Bought on the way up from the 90 cent range to about 1.15...I have ridden it down into the tank and realize that Bridge Mgmt havent got it in them to pull this off...
Some bad decisions along the way and not enough Due diligence by managment and thus constraints where not anticipated. Regardless of what anyone says the cash flow is just not going to be there when we need it...We've got bills to pay and the cashflow is looking pretty shaky as Bridge cant deal with its condensate issues thus production is going to be at a trickle for some time...Regardless of whether or not the over pressures are dealth with with the other companies...
Far too many other good companies out there than to waste my time and money on Ed...I've put a few pesos on this pony and lost...now its time to move on...Far too many other good cashflow stories out there than to continue with this piggy..:)
GLTA
T2

[smithgee]

looks like POO going to break $50 ... must be near the low on this one.

[Loopae]

Not too many gas stocks out there doing well on my list with NATGAS under $3.75 and with no signs of bottoming yet.  BUK is no different.  I think the bottom is near. As soon as I hear naysayers start to say that $2 may come soon I know that we are getting close. Just like the bunch of them was saying oil was going back to $20 a barrel when Oil was in the 30's, and look at where it

[Toasted2]

Yeah I agree...a lot of gas companies are not doing so hot... :( such is life...I'll save you some hunting for you dd....Investors were given assurances by Bridge that we should be producing a minimum of 30 mmcf/day + condensate. In October...then Nov, Dec, Jan...the delays continued.As at the end of the year:(Taken from Bridge's website)Summary of Quarterly ResultsThree months

[mikerosoft666]

I can't find the number for Nat Gas in the U.K. but I don't think it's in teh $3 handle.I agree that management have screwed up a lot here because they didn't give us material information which means they are incompetent or devious.  But I still think they have product flowing in the pipeline worth more than the condensate and they need to report what their sales are before

[dirac]

Its $can 5,50 now and dont forget they sold 5 bcft over the year june2009-june2010 at $can 9

[Toasted2]

Hey Mike  and Dirac...Just a couple things...Mike the gas is definitely worth more than the condensate...but again, as they produce, the condensate comes out with the gas in more or less the same ratio...because they cant hadle the capacity of condensate at this time. They are not able to produce there gas at higher volumes...My industry contacts have suggested the condensate is not an easy

[dirac]

I think that the extraordinary gains in Q3 came from ( non realiased) exchange gains on the debt they have in GBP.The price of gas at the end of december was higher the GBP 50p so they could not book a profit on the future contract.JMHO  

[tannin]

Huge new Lng facility just opened in the Wales; can import, i think, up to 1/3third the ng requirements for the U.K. from this one facility. ( could be a qtr ? ).Not likely to see any ng shortages in the u.k. now, and the u.k. ng price will be determined by the international Lng price.The international Lng price can, of course, go way up, as it did a few years back when Japan had to close a