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Strategies & Market Trends : Value Investing
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To: MNTNH who wrote (55797)8/4/2015 7:02:03 AM
From: Spekulatius   of 78744
 
Re EXCO - I Agree with you here. I think the recovery on some of the E&P bonds will be quite low, as those firms will issue secured debt that has a first claim compared to unsecured bonds, if they have no other choices.
A reverse split will not provide any capital unless they issue new stock and I think that will be difficult. Will it talks his book (same as with his Greek bank holdings) but I think he lost his money here. XCO had trouble to make the economics work when crude prices were twice the current level and NG was much higher - do not see how they can make it at current prices.
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