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FALCON ENERGY - UNDERVALUED WINNER TOP STOCK PICK
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danger
Supreme |
29-May-2017 16:53
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value investors and bargain hunters coming in ! | ||||
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pnuklis
Master |
29-May-2017 14:04
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All most all the counters of O& G are insolvent be it FEG/CHO, Pacific Radiance, Emas, Marcopolo, ASL. All their exposure consists of unsecured bonds, and secured bank loans where they have pledged ships and property and in addition many have sale lease back assets where they have huge exposure to charter rates which are overdue. What they promise to bond holders to kick the bucket down by 3 years is not going to improve the situation as the market is not going to improve or it may even get worst as it looks now. If you see the money they owe vis-a-vis assets and their impairment they are all in negetive territory. Due to very low cash situation most of these companies are strruggling to get spares to maintain the ships and do drydockings etc., as all supplyers are asking COD. Shipyards are asking payment before drydocking the vessels. Under these conditions how any one company can raise positive cash to pay off the old debts in another 3/5 years unless there is a big haircut taken by banks and bond holders? | ||||
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sheerluck
Supreme |
29-May-2017 12:57
Yells: "Work for your money first then let your money work for you" |
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Must avoid all O& G counters liao. Now OPEC already extend cut but did not cut more, market disappointed. There are no further catalyst from OPEC/Russia side until Nov. In the meantime all looking at EIA and rig count which is showing increasing rig counts again. |
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AndyLoss
Master |
29-May-2017 11:29
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0.69 made a,mistake of not selling earlier 😊
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kangaroo11
Veteran |
27-May-2017 13:58
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Downlorry? Can leftlorry and rightlorry as well? Lol!
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pnuklis
Master |
26-May-2017 17:20
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FEG is in deep trouble with big commitments for jack up rigs. I will be surprised if they make it. They are dragging CHO also in to their troubles. | ||||
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sheerluck
Supreme |
26-May-2017 13:40
Yells: "Work for your money first then let your money work for you" |
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I hope you guys read FEG 2016 ANnual Report to have a better gauge of its situation and what are coming its way in a couple of months. From AR2016.... Emphasis of Matter We draw attention to Note 1 to the fi nancial statements concerning the Group&rsquo s and Company&rsquo s exposure to the performance guarantee (Note 38), their ability to fulfi l future commitments for the purchase of rigs (Note 37) and to repay or redeem its indebtedness when the notes payable (Note 21) and bank overdraft and borrowings (Note 22) fall due, amidst the present market slow-down in the oil industry, substantial fall in charter rates and increased liquidity risk. These conditions, along with other matters as set forth in Note 1, indicate the existence of a material uncertainty which may cast signifi cant doubt on the Group&rsquo s and Company&rsquo s ability to continue as going concerns. Our opinion is not modifi ed in respect of this matter. Note 38 - CONTINGENT LIABILITIES Performance guarantee of US$1billion for the five rigs. FEG market cap only US$54ml but can guarantee US$1billion? Note 37 - COMMITMENTS Commitments not provided in their financial statement of US$500mil Note 21 - Note Payable US$37mil of note due on Sept 2017. The note will be the immediate problem. Judging from FEG recents performance, cash is unlikely to come from operation. So maybe more cheap sale of assets to further weaken their balance sheet. But the big white elephant are those five rigs. They will pull FEG into the abyss. So don' t jsut look at reported figures. They are already outdated. Look at what will be coming and think about what will happen to those so called huge equity. It might just disappear in a blink like Swiber and EZRA. I won' t touch FEG now. It is not even " not out of the woods" . It is way " too deep inside the woods" . DYDD. |
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sheerluck
Supreme |
26-May-2017 12:25
Yells: "Work for your money first then let your money work for you" |
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Will it break 7cts? | ||||
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kangaroo11
Veteran |
25-May-2017 17:08
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The eagle old and tired liao lah sia, cannot fly any more, need to give pump some steroid to his blood lah!!!! Lol!!!
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danger
Supreme |
25-May-2017 16:58
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KNN OIL DROP BACK TO $51 Falcon follow |
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kangaroo11
Veteran |
25-May-2017 16:45
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Suddenly Nam Cheong is on steroid, been flying off the roof the past few days!!! | ||||
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kangaroo11
Veteran |
25-May-2017 16:32
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today got support liao bo? reaching 5 cents liao!!! Huat ah!!!
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danger
Supreme |
25-May-2017 09:36
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CRUDE OIL $ 51.78 | ||||
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kangaroo11
Veteran |
24-May-2017 23:12
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Falcon shd have enough fuel to burn to keep them warm past this winter!
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danger
Supreme |
24-May-2017 09:39
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SGD 85 million can take Falcon private already .CEO already owns 54% of Falcon The entire market cap of Falcon now is only about $64 million !
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MarcPh
Senior |
24-May-2017 09:20
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Pacific Radiance seals $61m in state aid
http://www.tradewindsnews.com/offshore/1263972/pacific-radiance-seals-usd-61m-in-state-aid Pacific Radiance has emerged as a recipient of up to SGD 85m ($61m) in financial support from the Singapore government. It has been a beneficiary of IE Singapore&rsquo s Internationalisation Finance Scheme (IFS) and the re-introduction of SPRING&rsquo s Bridging Loan (BL). &ldquo While the disbursement of the SGD 70m is restricted to financing of projects that Pacific Radiance undertakes overseas, this still frees up cash flow that would have been otherwise committed for more immediate needs.&rdquo LOL, Falcon is larger company right? Hope they will secure similar support from government. SGD 85mio will save Falcon from their cashflow issues. |
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danger
Supreme |
24-May-2017 08:22
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MASSIVE SURGE IN CRUDE OIL TO $51.44 | ||||
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kangaroo11
Veteran |
23-May-2017 01:17
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At only <30% leverage, its probably not difficult for feg to leverage up to 50% and take out ~$160m equity for working capital and to meet $23m shortfall. For ezra, already max out at 61% leverage, say lenders are kind enough to stretch it to 70%, that will only give them another $250m which is still grossly insufficient to meet shortfall of $887m. This is the equity i'm talking abt.
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kangaroo11
Veteran |
23-May-2017 00:17
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EZRA Total Assets: $2639.95M Total Debt: $1632.72M Debt to Asset Ratio: 61.8% FEG Total Assets: $873.91M Total Debt: $253.58M Debt to Asset Ratio: 29.01% FEG nett current liabilities is marginally in the red of $23M vs EZRA overwhelming $887M. Overall debt to asset ratio, FEG leverage is low at 29.01% vs EZRA of 61.8%.
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sheerluck
Supreme |
22-May-2017 23:12
Yells: "Work for your money first then let your money work for you" |
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Now that you quoted comparable figures, we can talk like I know what you are talking about. Now my comment based upon you quoting Total Assets, Total Debt and EV for FEG from SGX. I give you the equivalent for EZRA. Total Assetss: $2639.95M Total Debt: $1632.72M Enterprice Value: $1764.62M (SGX 29 Nov 2016) So EZRA also has lots of equity and even more than FEG by 20 miles then but is now kaput. So now if you want to change to using current assets and liabilities for your view, then I am also happy to comment based on using current assets and liabilities but you shold be
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