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Post by treefarmer on Mar 4, 2015 12:45:30 GMT -7
Moneytrader, I agree that Balkany was involved, it just makes sense. Haliburton is the word on the street...trading at $42.85
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Post by oilgashappy on Mar 4, 2015 16:55:47 GMT -7
There is no update on the E&Y website. Time to give us the detail of this sale agreement.
Do we, as shareholder, have any say on this? From the monitors' previous reports, sound like the creditors will be paid in full. Does the shareholder get a fair share or not?
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Post by viprgtsr on Mar 4, 2015 20:06:08 GMT -7
Thin,
You have no clue. Balkany is a common share holder and he had enough power to replace the entire board of directors and initiate the sales process. He clearly has a say in what happens.
Tree farmer,
The value of the HALIBURTON shares is 100% irrelevant to what gasfracs shares are, so I'm not sure what your point about is.
Oulgashappy,
Yes we have a say, and Balkany is representing our interests.
The rest of you (and especially the people assuming we will get nothing),
QUIT THE DAMN SPECULATION. NONE OF YOU HAVE MADE A COMMENT WORTH WHILE.
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Post by fora182 on Mar 4, 2015 20:55:41 GMT -7
Living in the Red Deer area and driving past there facility three or four times a week including weekends. I can attest that Gasfrac appears to have been busy over the last five plus month's. This time frame has yet to be reported on. Remembering as well that this is what management had stated the last time we heard from them. GLTA
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Post by charbsey on Mar 4, 2015 22:11:52 GMT -7
Hilaburtion is the word on the streets ?
I will guess FMC industrial
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Post by viprgtsr on Mar 5, 2015 7:24:48 GMT -7
FMC Industrial owns and operates plants that make industrial chemicals. The main FMC corporation is a manufacturer of many oil and gas related products including manifold trailers used for fracing. Why would FMC choose to compete with their customers (their customer's being these oil and gas service companies). In fact, FMC is a vendor of Gasfrac. Why buy Gasfrac?
Haliburton... that's possible.
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Post by treefarmer on Mar 5, 2015 7:31:04 GMT -7
And recent sightings yesterday have tankers being moved from the Nettles well pad in Ohio, maybe/probably they are being moved to the Parker well for the announced laterals using Gasfrac technology/equipment. It seems that the movement of this equipment is oddly coincidental to the sale announcement.
Halliburton is the word on the street, just sayin.
Vipr, try being nice, your posts are starting to sound a bit venomous. Coincidence?
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Post by treefarmer on Mar 5, 2015 7:42:13 GMT -7
Remember November 2011 Gasfrac has hired Zeke Zeringue, 28 year career with and former president of Halliburton Energy Services Group, to replace its retiring founder and CEO.
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Post by stableboy48 on Mar 5, 2015 8:07:51 GMT -7
Anybody ever hear any "rumors" as to why Zeke was fired??
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Post by snortdd on Mar 5, 2015 8:42:32 GMT -7
And recent sightings yesterday have tankers being moved from the Nettles well pad in Ohio, maybe/probably they are being moved to the Parker well for the announced laterals using Gasfrac technology/equipment. It seems that the movement of this equipment is oddly coincidental to the sale announcement. Halliburton is the word on the street, just sayin. Vipr, try being nice, your posts are starting to sound a bit venomous. Coincidence? There is no sale until the court approves it, and there won't be any disclosure or announcements until after that approval. The court may be approving a deal at any time now, and soon the drama and suspense may end for us.
Vipr's comments are largely correct and hopefully some of his estimates are close to the end result, but they are only estimates, as he stated. (We are not exactly in a "sellers market" for fracking equipment, so who knows what the assets are worth now.)
Everyone here is stressed, and sometimes stress affects peoples' behaviors. It's understandable, but we do need to remain civil and mutually supportive as longs with some large exposures.
It is pointless to be speculating at this time. We will know soon enough.
As for myself, I have chosen to go full and completely negative- and expect only the worst. I've been positive and constructive about this company for many years and have speculated on the stock as a way to potentially gain multiples on my investments. That hasn't worked out, so my new strategy is to become as negative as I can and maybe that will give us a different result, for a change. (LOL)
Personally, even if we land up getting something out of the sale, and even if I am made whole (doubt it), I am still very disappointed that the process appears to be ending in a sale. That means I will not be able to participate in future profits resulting from this very promising technology as a pure play in the form of GasFrac. I was hoping for a refinancing and continued operations.
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Post by viprgtsr on Mar 5, 2015 10:06:22 GMT -7
And recent sightings yesterday have tankers being moved from the Nettles well pad in Ohio, maybe/probably they are being moved to the Parker well for the announced laterals using Gasfrac technology/equipment. It seems that the movement of this equipment is oddly coincidental to the sale announcement. Halliburton is the word on the street, just sayin. Vipr, try being nice, your posts are starting to sound a bit venomous. Coincidence? The only coincidence here is that I used a line in all caps. Sorry, I'm somewhat frustrated with how much I have lost in this security. I do want others to understand the corporate finance part of it, because the comments indicating that we will get nothing (with no basis) are starting to get to me. But that is a personal problem, and I will, of course, get over it.
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Post by charbsey on Mar 5, 2015 10:46:25 GMT -7
Why would FMC by this technology ?
Leigh Cassidy worked for Compton Petroleum Corporation, soon after it was bought from FMC
why is Leigh Cassidy join the board of gasfrac ? because of some purchase of valves or other supplys that's gasfrac needed to complete one of the fracking job ... doesn't add up to me
I believe fmc did put their bids in .. No one here knows who the owner is now..
hurry up and wait
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Post by chip6a on Mar 5, 2015 10:58:47 GMT -7
In my opinion I can't believe they will sell Julien Balkany down the road. He is on the board he got blind sided invested 6 million then months later they file bankruptcy. We are all getting frustrated and grabbing at straws and rumors (if my wife knew how much I loss she will kill me). Suspends is going to kill us till we find out what is actually going on, so we have to wait this thing out. In the mean time let's not keep guessing and relying on rumors. I think our only ace in the hole is Julien Balkany I don't believe they will through him under the bus. We might not crap and then again we might get something only time will tell.
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Post by oilgashappy on Mar 5, 2015 16:43:34 GMT -7
snort >>I was hoping for a refinancing and continued operations.
I'm with you on this. But doesn't look like it
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Post by viprgtsr on Mar 6, 2015 7:46:46 GMT -7
In my view, this is an arbitrage play for Balkany. Plain and simple. If that is the case, then his exit plan should have projected that liquidation would bring more for the assets than what the market valued these assets. This, among other ideas, I cling to because otherwise this man (and me) lost a whole bunch of money on a really big gamble.
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