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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: ValueAmigo who wrote (37443)	4/19/2010 11:49:25 PM
From: Paul Senior	Respond to of 78753

ValueAmigo. Shipping stocks. I'm a buyer (adding to a small position) of SBLK around current price. While their fleet is on time-charter, some of the charters seem like they might be renewed at lower prices. I need to study this one and the sector a little closer before I commit more money to this one. starbulk.com I've mentioned NM many times. My favorite. I'm not buying more at current price though. Also I like TOO. Seems like its ships, which deal with off-shore oil/gas companies, should be in demand as off-shore exploration is emphasized more. A limited partnership setup, the distribution at 9% if attractive. (It was higher though when the stock was lower.) I'll continue building a position if stock will drop a bit on no adverse news. finance.yahoo.com ULTR is/was owned by a couple of people here. Its barge and shipping business related to Brazil are attractions. (I still hold all my shares, some at much higher prices than currently.)

To: ValueAmigo who wrote (37443)	4/20/2010 12:07:08 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78753

ValueAmigo. I'm trying to figure out how to value e&p producers to pick them when they're values. I'm currently using enterprise value to nav. Nav, we've had some discussions of what that number could or should best entail. On proved and probable reserves after tax, there's a number that's often published for these companies. ATPG has the highest such nav/enterprise value of any company that I've come across. That's one reason I like it. Also, ATPG isn't exactly an e&p company in that it doesn't really explore ('e') as do typical e&p companies. It buys positions that already have been explored and produces from them. For this reason and because there's a large oil component in addition to gas component with ATPG, I also like the stock.