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Albert Alfonso  

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  • AT&T: Changes Are Coming In 2015 [View article]
    richjoy403,

    We could get there if the market sees a big down day. Its more wishful thinking than a price target call.
    Jan 28, 2015. 11:52 PM | Likes Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    adecinvestor,

    And I hope you make a bundle off your investment. PWE could double/triple if oil prices were to recover. However, just be aware of the risks. This is not a good period for E&Ps.
    Jan 28, 2015. 11:48 PM | 1 Like Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    Hendrick3,

    "financial condition that was untrue."

    If this were true, PWE would not be talking to its lenders. The financial health of the company went from bad, to worse, to untenable in mere weeks. The revised 2015 capex budget assumes a considerable amount of borrowing to fund production growth. Is that really how you want to deploy capital?

    Try to spin this all you like. However, PWE needs to figure something out fast if oil stays below $50. They need to convert assets into cash and stop spending like sailors at port.
    Jan 28, 2015. 09:03 AM | 2 Likes Like |Link to Comment
  • BreitBurn Energy Partners: Making Sense Of The 20%+ Rally [View article]
    BBEP is looking for a term loan, not senior debt.
    Jan 27, 2015. 07:48 PM | 1 Like Like |Link to Comment
  • Vanguard Natural Resources - The Distribution Remains Intact For Now, Though Expect A Cut Next Month [View article]
    rickevan,

    I do not cover individual debt, only equities. I do own a few junk ETFs though. I agree these are attractive alternatives to the preferred.
    Jan 27, 2015. 06:31 PM | Likes Like |Link to Comment
  • Vanguard Natural Resources - The Distribution Remains Intact For Now, Though Expect A Cut Next Month [View article]
    AlanHHI,

    Keep in mind that 40% cut is my own estimate and it quite bearish. If they cut capex by a large amount we could see smaller cut.

    As for why VNRAP is trading above VNRBP and VNRCP, this is just market inefficiencies playing out. I would like to buy any of these preferred units at under $20.
    Jan 27, 2015. 06:26 PM | Likes Like |Link to Comment
  • Vanguard Natural Resources - The Distribution Remains Intact For Now, Though Expect A Cut Next Month [View article]
    Bruce Miller,

    In theory, they could suspend the preferred distributions to retain capital. In this scenario, the common distribution would also be scrapped. They would however still need to make up any missing payments in the future. This one of the reasons why the preferred units are much more safer.
    Jan 27, 2015. 06:21 PM | 1 Like Like |Link to Comment
  • Atlas Resource Partners: What Does The Recent Transaction Mean? [View article]
    Yes. Though they may need to cut the distribution soon.
    Jan 27, 2015. 03:53 PM | Likes Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    DSandman999,

    A solid comment.

    Unfortunately, "boilerplate" information is needed to avoid the sort of comment stream seen here. Few bother to check links or prior research. Investors are really emotional, especially if they are losing money. I think this has been my least well-received piece to date.
    Jan 27, 2015. 03:58 AM | 2 Likes Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    River18,

    You make a good point. If the short case for PWE is weak, it only confirms the bullish thesis. I do not have a dog in this race BTW.
    Jan 27, 2015. 03:49 AM | 1 Like Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    The Halloween massacre was the most wrongheaded decision in Canadian economic history. Such a wealth destroyer. However, you were able to pick up quality pieces like PVX at a pittance. I think I made 300% on that name before PBA took them out.
    Jan 27, 2015. 03:47 AM | 1 Like Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    Michael Blair,

    The ball is in PWE's court for now. They need to act fast or face restrictions from the lenders.

    Instead of paying a dividend, PWE needs to raise capital, shut-in more production, and slash the capex budget even more. There will be time for dividends when oil prices recover.
    Jan 27, 2015. 03:45 AM | 2 Likes Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    DSandman999,

    Articles and comment streams like this remind me that longs outnumber shorts by at least 10 to 1. Maybe I should have just titled this "avoid PWE"...
    Jan 27, 2015. 03:41 AM | 1 Like Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    adecinvestor,

    Do not try to paint me as a short. I have no economic interest in PWE. I also do not short anything as I am long-only dividend/income investor.
    Jan 27, 2015. 03:30 AM | 4 Likes Like |Link to Comment
  • Penn West Is Talking With Lenders As It Faces A Liquidity Crisis [View article]
    Hendrick,

    I actually did listen to the whistler conference call. PWE seemed confident that the lenders would ease the covenants. However, the mere fact that they are talking to lenders is newsworthy and alarming.

    Jan 27, 2015. 03:29 AM | 4 Likes Like |Link to Comment
COMMENTS STATS
2,122 Comments
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