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Douglas E. Johnston

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  • Mississippian Lime: Tom Ward's 600,000-Acre Comeback [View article]
    @papa - just wait 5-10 years...they'll be a whole new crew of believers, street peddlers, and reserve estimates, and you won't be able to Ward them off....
    Mar 25 12:43 PM | 1 Like Like |Link to Comment
  • Straight Talk On Gold - You May Not Want To Hear It [View article]
    i will say one thing about gold - alright two things....it doesn't give itself options for just sitting there and it doesn't require manure.
    Mar 25 12:37 PM | Likes Like |Link to Comment
  • KKR Financial: KKR Should Pay More For Us [View article]
    i've looked through the CLO book and don't see anything problematic...in fact, those TXU bonds look like they are underbooked and I am sure KKR wants to get there hands on those, so they can direct traffic (their equity is worthless)...i think Goldman had their adj book value close to $12 just based on pricing the CLO book to fair value (not inc O&G assets)...

    totally agree on the rest...round and round...
    Mar 24 01:56 PM | 1 Like Like |Link to Comment
  • SandRidge Mississippian Trust II: Significant Downside Risk Remains [View article]
    propane was 1.50 wholesale during winter spike...here is EIA retail stats

    http://1.usa.gov/ZwCXsE

    ethane was also quite high as was the ratio to crude at 50%...other NGLs were not impacted as much.....

    I'm wondering if you mean LNG as opposed to NGL. Propane has already begun exports with EPD's terminal

    The Cushing stocks look like a seasonal low and the chart doesn't compel me - we are working off a huge stock pile from 2013...and then there is Keystone...

    http://1.usa.gov/1hUPXDw


    i think you're point regarding commodity prices is fine. I would just play it in other ways, not long SDR. You can buy 1 year out oil futures sub 90, similar backwardated in NG ...
    Mar 24 01:50 PM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: Significant Downside Risk Remains [View article]
    NGLs have come back down...propane now at 105 down from 150+ in Feb and futures contracts don't have any meaningful rise price in....for WTI either...playing the backward futures curve is not a bad trade.

    there is nothing to indicate that SDR is a "screaming buy" ....
    Mar 24 09:16 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: Significant Downside Risk Remains [View article]
    @raj - u do know that you can write an article on WHX and SDR if you are so inclined.
    Mar 24 09:11 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: PV-10 Reflects Another Mississippian Nightmare In The Making [View article]
    love the opening line....
    Mar 24 09:08 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: PV-10 Reflects Another Mississippian Nightmare In The Making [View article]
    why do u think you will get .45 per quarter for the next four years?
    Mar 24 09:07 AM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: PV-10 Reflects Another Mississippian Nightmare In The Making [View article]
    "Disbursements per unit are still strong. disbursements in 2013 were better than disbursements in 2012 and the January 2014 disbursement was better than the January 2013 disbursement. "

    that is because the minimum target distribution was higher and the subs supported the distribution....
    Mar 24 09:06 AM | Likes Like |Link to Comment
  • KKR Financial: KKR Should Pay More For Us [View article]
    @Fib....yes exactly....i've learned to appreciate this option....an issue with MLPs too, e.g., BWP is cheap but L might take it down at 14. XCO (not so cheap, imo) but ross et.al. take it at 5-6. and the list goes on.....

    on Coop - yeah i was a bit surprised...maybe he was just happy with that late year pop but he did seem satisfied...maybe not anymore at today's conversion...
    Mar 24 09:03 AM | Likes Like |Link to Comment
  • Fifth Street says Q1 is on track; hints at boosted future payout [View news story]
    fsc is a joke....look how much they take in fees every year....
    Mar 21 03:26 PM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: Significant Downside Risk Remains [View article]
    @raj - why don't we give it a rest and see how it plays out...

    if u are right, you can come back and make us all eat humble pie

    signing off....
    Mar 21 03:14 PM | Likes Like |Link to Comment
  • Oil And Gas Trust Value Rankings (Q4 2013 Results) [View article]
    thanks..i think NDRO is wishful thinking....they spend a lot on development last year and yet production was awful compared to their own predictions. I could see some stabilization in production but its clear they either have to keep spending like this ~2mn a month, and have a low steady distribution of 75c-$1 or drop the capex and let it decline...either way, seems like it should be sub-$10 especially since the sponsor has/is selling...cheers
    Mar 21 03:13 PM | 2 Likes Like |Link to Comment
  • SandRidge Mississippian Trust II: PV-10 Reflects Another Mississippian Nightmare In The Making [View article]
    and what if oil was to collapse....you can always check Dan's credibility by looking at his past comments and articles....i would say he is quite credible...of course, this is your first comment on SA, so hard to say...
    Mar 21 03:08 PM | Likes Like |Link to Comment
  • Barrick Gold: A Significant Rebound Is In Play [View article]
    so the economy zings, fed still has 0 rates, money is velocitizing, and gold goes down.....

    TRUTH: NO ONE KNOWS


    and GS makes a ton by coming to the "rescue" and "helping" the miners restructure their balance sheet with asset sales...to who? nevermind
    Mar 21 03:03 PM | Likes Like |Link to Comment
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