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UnCoverUp

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  • ConocoPhilips Ready To Break Out In 2012 [View article]
    The "pumpers" here should do some due diligence and read the Form 10 and Form S-3 that COP and PSX (Phillips 66) filed in seeking SEC approval of this Reverse Morris Trust (RMT) spin-off transaction. These filings show that PSX is being saddled with debt and indemnifications of COP's toxic tort liabilities (remember all those COP-branded refineries and gas stations around the world leaking toxins into groundwater?).

    It is unlikely that courts will allow COP to escape toxic tort liabilities using the contrived indemnification agreements and an orchestrated PSX's bankruptcy. Consequently, the COP lawyers who cooked up this spin-off are only making work for their professional colleagues who will prosecute and defend, at COP shareholder expense, the shareholder class action that are sure to follow. Take a look at what happened to and continues to happen to Halliburton following the companies attempt to spin-off asbestos liabilities into D-II Industries. (USDC-TXNDC Case 3:02-cv-0115 pending in federal court for ten years).

    Some homework on these SEC filings, as surely SEC lawyers will do before the transaction is approved/disapproved, suggests a more cautious investment strategy.

    Pre-spin-off: COP May long strangle (if available) to benefit from Mr. Smith's projected up-jump of 8-10% if the SEC approves the spin-off, and to benefit from the probable down-jump of 8-10% if the SEC does not approve the spin-off.

    Post-spin-off: long COP, short PSX until COP drops the dividend bait that was used to attract pre-spin-off shareholders so that they could be stuck with the shares of an essentially bankrupt PSX.
    Mar 12 11:18 PM | 9 Likes Like |Link to Comment
  • ConocoPhillips: The Best Is Yet To Come [View article]
    ConocoPhillips (COP) should abandon the contractual agreements that former Chairman James J. Mulva and the Bush-Cheney Regime brokered with the Gaddafi Regime before more US soldiers or diplomats loose their lives defending COP, not US, "interests" in Libya. As discussed in "ConocoPhillips Shareholder Proposal -- 2012" (published at http://bit.ly/RUYhfv) the corporate lawyer-turned diplomat Christopher Stevens was most likely assassinated in 2012 because of his past role as middleman in COP's corruption-inspired contracts with the now hated Gaddafi Regime. Message to COP's board of directors from the mothers and fathers of US soldiers who you have "used" to protect your interest over the decades, from the 1993 Battle of Mogadishu, through the 2003 Iraq War, to the 2012 Benghazi attacks: "We're finished subsidizing your exploitation of other peoples natural resources with the lives of our sons and daughters."
    May 23 10:12 AM | 3 Likes Like |Link to Comment
  • Libyan navy surrounds tanker with oil that rebels are trying to sell [View news story]
    Appears that Libyan freedom fighters are contesting the legality of the corrupt deals ConocoPhillips Chairman James J. Mulva and his Waha Oil partners struck with former Libyan dictator Gaddafi--as described in "ConocoPhillips Shareholder Proposal -- 2012" (http://bit.ly/1dIMU1Q). The only hope for justice for Libyan freedom fighters may be to seek Mulva's extradition to the International Court of Justice (ICoJ) because ConocoPhillips is obviously using its regulatory capture of DoJ/SEC-employed lawyers to extort quid pro quo selective non-prosecution protection for the corporations' directors' crimes.
    Mar 10 01:40 PM | 3 Likes Like |Link to Comment
  • Why ConocoPhillips Is Not Attractive At These Prices [View article]
    Good analysis. The dividend increase is bait by COP's BOD to get shareholders to buy before the spin-off of Phillips 66. Investors who are considering buy COP before the spin-off are advised to read the Form 10-12B/A, Exhibit 99.1 available on the SEC EDGAR site (http://1.usa.gov/Awuz3X). In particular, the sections in the Information Statement and the attached financial statement regarding the environmental liabilities COP is attempting to dump upon pre-spin-off shareholders in the form of Phillips 66 stock. The plan will leave COP virtually free of environmental liabilities and cash-rich from the sale of Phillips 66 and other "assets." The new COP will be ripe for greenmail takeover by private equity. Advice: Keep your power dry until after the spin-off, then buy the cash-rich and greenmail-ripe COP.
    Feb 22 09:28 AM | 3 Likes Like |Link to Comment
  • Libyan navy surrounds tanker with oil that rebels are trying to sell [View news story]
    2839298249: maybe you should "get a grip" on recent Libyan history. The Libyan freedom fighters apparenly believe that the oil is owned by the citizens of Libya. The only claims ConocoPhillips, Marathon and Hess have to Libyan oil are based upon demonstrably corrupt agreements (as discussed in "ConocoPhillips Shareholder Proposal -- 2012" referenced above) between the corporations' officer-directors and the now dead or jailed members of Gaddafi crime family. There is no question how a Libyan jury would decide the merits of Waha partners' contract claims to Libyan oil in light of the substantial evidence showing the contracts were granted by the Gaddafi family as quid pro quo for bribes paid by the Waha partners. Less certain is how a Libyan jury will decide the criminal cases of jailed Gaddafi family members and the officer-directors of US-based international oil companies (IOC's) like ConocoPhillips' Mulva who aided and abetted them in their crimes against the Libyan people for decades.
    Mar 10 05:27 PM | 2 Likes Like |Link to Comment
  • ConocoPhillips (COP) CEO Ryan Lance creates a stir by warning OPEC oil ministers that North America could become self-sufficient in oil by 2025. Even if Lance overstated the likelihood for regional self-sufficiency, the potential for a radical reshape of the geopolitics and business of oil, especially if techniques pioneered in the U.S. can be copied elsewhere, must have been a cold slap in the face.  [View news story]
    Great news Lance! Why didn't you or your predecessors at ConocoPhillips say this twelve years ago before the US federal government wasted trillions of dollars and tens of thousands of human lives in the covert and overt, threatened and actual, war Bush-Cheney and Obama-Biden Administrations.

    The website http://UnCoverUp.net publishes a recent ConoocPhillips shareholder proposal that describes one instance of the federal government subsidizing the company to protect its "rights" to exploit Libyan resources--"rights" that were secured criminally corrupt dealings with former Gaddafi regime.
    Jun 14 10:04 PM | 2 Likes Like |Link to Comment
  • ConocoPhillips: Should You Buy Before Or After The Split? [View article]
    The "...few legal hoops remaining..." before the split can be consummated may be larger hoops than ConocoPhillips' public relations and stock pitchmen are revealing. As TaiPan observes, the peddling of the idea that the split will "unlock shareholder value" is unjustified hype that my amount to fraud upon the markets. This begs the question as to why ConocoPhillips Chairman Mulva and the inattentive boys/girls on his board are making the move so soon after the merger of Conoco and Phillips, and just before Mulva's retirement.
    One explanation maybe that Mulva and his attorneys are rushing to split the company into two parts--right after Department of State (DoS) cables published by WikiLeaks appear to show that Mulva had willfully violated the US Foreign Corrupt Practices Act (FCPA) in his dealings with Libyan dictator Gaddafi. (See "ConocoPhillips Shareholder Proposal -- 2012" at http://UnCoverUp.net.)
    Under these circumstances, the contemplated spin-off should be subject to INFORMED shareholder approval/disapproval; delayed until Mulva retires (or is indicted), and stockholders can elect an alert Board who were not complicit in Mulva's dealings with the Gaddafi regime.
    Dec 31 09:15 PM | 2 Likes Like |Link to Comment
  • Analyzing ConocoPhillips's Debt And Risk [View article]
    As the bond rating agencies demonstrated in their role in the 2008 financial collapse, the investment bank bond peddlers and their indebted corporate clients can get a fraudulent "bond rating" for a very small kick-back.
    Sep 28 01:28 PM | 1 Like Like |Link to Comment
  • ConocoPhillips Reports Solid Yields, Concerning Production Declines [View article]
    At today's price per share it would only take $35B to gain control of the Board of Directors and purge other shareholders through a Board mandated buyout of minority shareholders using COP cash from operations or borrowing the cheap money now available from the banksters with connections to the Federal Reserve. If US private equity firms are too risk-adverse following their 2008 experiences. COP's management has developed close friendships with several dictatorships around the world that would have no problem finding $70B to pay for COP's (non-US) assets--China and Qatar for example.
    Jul 28 09:36 AM | 1 Like Like |Link to Comment
  • ConocoPhillips (COP) -1.2% premarket after shares are downgraded to Sell from Neutral at Goldman Sachs. COP "continue[s] to trade more like a defensive super major rather than a somewhat higher-beta domestic oil/E&P post the spin-off of its downstream assets," the firm says, as it sees greater upside elsewhere in the integrated/domestic oil and refiner sector.  [View news story]
    Unfortunately COP management is delivering on its promised increase in yield and dividend per share as a percentage of price per share by devaluing COP share price. The high yield and dividend percentages promised by COP management after the spinoff depended on massive borrowing to finance the spinoff and that debt obligation has destroyed shareholder value not "unlocked" shareholder value as touted by COP's clueless directors.

    Pre-spinoff share price: (COP + PSX) > $75.00
    Post-spinoff share price: (COP + PSX) < ( $55 + .5 x $34) = $72.
    Jun 20 10:36 AM | 1 Like Like |Link to Comment
  • Shell produces first oil at Gumusut-Kakap offshore Malaysia [View news story]
    Yes, as long as the Government of Malaysia (GOM) and ConocoPhillips stick to oil production and stop trying on-the-cheap management of aviation operations as proved so disastrous for the victims of the MAS MH370 and MH370 crashes, and the COP N204C crash (Iran-Conoco-Affair.US).
    Oct 8 09:39 AM | Likes Like |Link to Comment
  • Total, Repsol pull some staff from Libya on security concerns [View news story]
    ConocoPhillips (COP) should do the honorable thing and abandon the contractual agreements that former Chairman James J. Mulva and the Bush-Cheney Regime brokered with the Gaddafi Regime before more US soldiers or diplomats loose their lives defending COP, not US, "interests" in Libya. As discussed in "ConocoPhillips Shareholder Proposal -- 2012" (published at http://bit.ly/RUYhfv) the corporate lawyer-turned diplomat Christopher Stevens was most likely assassinated in 2012 because of his past role as middleman in COP's corruption-inspired contracts with the now hated Gaddafi Regime. Message to COP's board of directors from the mothers and fathers of US soldiers who you have "used" to protect your interest over the decades, from the 1993 Battle of Mogadishu, through the 2003 Iraq War, to the 2012 Benghazi attacks: "We're finished subsidizing your exploitation of other peoples natural resources with the lives of our sons and daughters."
    May 23 10:10 AM | Likes Like |Link to Comment
  • ConocoPhillips' CEO Discusses Q1 2014 Results - Earnings Call Transcript [View article]
    ConocoPhillips (COP) should do the honorable thing and abandon the contractual agreements that former Chairman James J. Mulva and the Bush-Cheney Regime brokered with the Gaddafi Regime before more US soldiers or diplomats loose their lives defending COP, not US, "interests" in Libya. As discussed in "ConocoPhillips Shareholder Proposal -- 2012" (published at http://bit.ly/RUYhfv) the corporate lawyer turned diplomat Christopher Stevens was most likely assassinated in 2012 because of his past role as middleman in COP's corruption-laden contract negotiations with the now hated Gaddafi Regime. Message to COP's board of directors from the mothers and fathers of US soldiers who you have "used" to protect your interest over the decades, from the 1993 Battle of Mogadishu, through the 2003 Iraq War, to the 2012 Benghazi attacks: "We're finished subsidizing your exploitation of other peoples natural resources with the lives of our sons and daughters."
    May 21 05:27 PM | Likes Like |Link to Comment
  • Crude prices rise on dashed hopes for Libya production [View news story]
    ConocoPhillips (COP) should do the honorable thing and abandon the contractual agreements that former Chairman James J. Mulva and the Bush-Cheney Regime brokered with the Gaddafi Regime before more US soldiers or diplomats loose their lives defending COP, not US, "interests" in Libya. As discussed in "ConocoPhillips Shareholder Proposal -- 2012" (published at http://bit.ly/RUYhfv) the corporate lawyer turned diplomat Christopher Stevens was most likely assassinated in 2012 because of his past role as middleman in COP's corruption-laden contract negotiations with the now hated Gaddafi Regime. Message to COP's board of directors from the mothers and fathers of US soldiers who you have "used" to protect your interest over the decades, from the 1993 Battle of Mogadishu, through the 2003 Iraq War, to the 2012 Benghazi attacks: "We're finished subsidizing your exploitation of other peoples natural resources with the lives of our sons and daughters."
    May 21 02:50 PM | Likes Like |Link to Comment
  • Libya peace seen complicated by oil cargo from rebel port [View news story]
    Too bad, so sad...
    Mar 13 12:50 PM | Likes Like |Link to Comment
COMMENTS STATS
39 Comments
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