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Started By
Message
re: Stone energy. Anyone with info
Posted on 7/1/16 at 9:05 am to Brettesaurus Rex
Posted on 7/1/16 at 9:05 am to Brettesaurus Rex
from down 65% to up 20%? lol
Posted on 7/1/16 at 9:33 am to crazycubes
Went from about 47% down to about 10% up now
Posted on 7/1/16 at 10:05 am to Brettesaurus Rex
I sold at $12.30 with a cost basis of $3.70. Enjoy the ride fellas.
Posted on 7/7/16 at 10:17 am to Brettesaurus Rex
Can someone explain this to me? How is this stock climbing so much, they literally haven't done anything to warrant this and will still most likely file bankruptcy.
Posted on 7/7/16 at 10:22 am to GREENHEAD22
probably shorted to death and people are covering.
Posted on 7/7/16 at 10:39 am to GREENHEAD22
They recently made the required payment against their debt and I'm pretty sure opened two wells back up that plan on ramping up through August. Not saying that's the reason but there are some things going on.
I plan on riding a little longer.
I plan on riding a little longer.
Posted on 7/11/16 at 8:40 pm to dkreller
Rode all the way to 17.70 today. fricking right
Posted on 7/11/16 at 9:19 pm to Brettesaurus Rex
This is the only stock I have ever sold. FMS
With my luck the other two risk plays I am in will go belly up but I riding them until they die.
With my luck the other two risk plays I am in will go belly up but I riding them until they die.
Posted on 7/11/16 at 10:54 pm to Brettesaurus Rex
quote:
They recently made the required payment against their debt
To put this into better context, they didn't pay their last major interest payment by the deadline. They managed to make the interest payment during the grace period, averting default and/or bankruptcy... for the time being.
What I don't think people are noticing is that SGY has $300 million in senior convertible notes due in March 2017, which they can't afford to pay. So SGY is in talks with the debt-holders to figure out a resolution, which would wipe out existing shareholders.
Per page 5 of the latest 10-Q:
quote:
We are in discussions with our banks regarding an amendment to our bank credit facility to address the potential covenant issue. We cannot provide any assurances that we will reach an agreement with the lenders under our bank credit facility on a waiver or amendment on a timely basis, or on satisfactory terms, to alleviate any non-compliance with our debt covenants. In addition to our borrowings under our bank credit facility, we have $1,075 million of senior indebtedness, including our 1¾% Senior Convertible Notes due in March 2017 (the "2017 Convertible Notes"). We are in the process of analyzing various strategic alternatives to address our liquidity and capital structure, including strategic and refinancing alternatives through a private restructuring, asset sales and a prepackaged or prearranged bankruptcy filing. We cannot provide any assurances that we will be able to complete a private restructuring or asset sales on satisfactory terms to provide the liquidity to restructure or pay down our senior indebtedness.
Give them credit for trying hard to stay alive, but I don't think they're in a viable position. They have too much debt coming due that they can't pay, they will likely see another cut in their credit facility (which means the difference will have to be paid back almost immediately), their operating cash flows at $37 oil is -$68.4 million, they don't have enough cash for any of these issues, and they have negative equity. SGY is a zombie.
Posted on 7/12/16 at 8:40 am to Omada
For now I'm riding and will probably set a stop sell on it.
Oh and we just hit $20!!
Oh and we just hit $20!!
Posted on 7/12/16 at 12:13 pm to Brettesaurus Rex
Up $6 today. This is incredible
Posted on 7/12/16 at 12:24 pm to Brettesaurus Rex
My body is telling me yes.
Posted on 7/12/16 at 2:14 pm to thegreatboudini
I'm trying to decide where to put my sell point at. I don't want to get too greedy, but I feel like there's a little more to squeeze out.
Posted on 7/12/16 at 2:36 pm to Brettesaurus Rex
what the hell is going on
Posted on 7/12/16 at 3:08 pm to donRANDOMnumbers
Word on the street is stone has knocked a few out the park recently in Mississippi Canyon.
This post was edited on 7/12/16 at 3:09 pm
Posted on 7/13/16 at 8:21 am to thegreatboudini
Just put a stop limit sale on it for 21.85 on it, guaranteeing me at least a 75% overall gain. I just don't know when this run will end and don't want to get caught being greedy. One of these days I think it's going to fall back off a cliff.
And there it goes, I'm out. Excellent run fellas
And there it goes, I'm out. Excellent run fellas
This post was edited on 7/13/16 at 8:44 am
Posted on 7/13/16 at 8:12 pm to Brettesaurus Rex
quote:
And there it goes, I'm out. Excellent run fellas
The run up defies logic, but such is the market. They're making good moves, but like onada said, stockholders will likely be left holding the bill at some point without a crazy turn of events. Setting stop limits is the smart play.
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