Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Spekulatius	7/5/2013 10:12:32 AM
	Read Replies (2) of 78702

LINE - anybody watching this horror show. I am not sure what to make of this, as the accounting of the hedges does not necessarily look wrong to me. I looked at their 10q /10K and the latest presentation and it seems to me that they PEG their maintenance capital at 110M$ last quarter which is only half the depreciation and ~0.9$ per lifted MCFE of gas. Maintenance Capex is the Capex needed to replace production decline and the reserves and is a Non GAAP number. If true, they would be great numbers, but I know no other mature E&P that can do that. Funny, that they never put any non-GAAP numbers in their SEC filings but the presentations are full of them. There is a mountain of debt too. I'll pass although it does look interesting as a short term trade, because this may blow over...

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next