How can i sell SEA.AX and get money back?, page-25

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moremoneyplease

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11/12/19

09:55

Post #: 41905068
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Originally posted by cmonaussie: ↑

I see Mike Hannell's replacement appointed as Chairman ... Stephen J McDaniel .... technical guy with business development background (ex Conoco).

I see he founded Midstates Petroleum, later IPO. Also on the BoD of Ultra.

What you don't get as background, which may or may not have anything to do with Mr McDaniel himself is, (because it occurred after he was no longer a director of MidStates)

"On April 30, 2016, we filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. On October 21, 2016, in connection with our emergence from Chapter 11, our existing common shares were cancelled and on October 24,2016, our new common shares issued in connection with our successful reorganization and emergence from Chapter 11 were listed and began trading on the NYSE MKT under the symbol “MPO”.

Likewise Ultra Petroleum has a checkered history (and he has/is director since ~ 2006)
Ultra Petroleum on April 30 filed for Chapter 11 in bankruptcy court in Houston, Texas, the company announced, citing the energy industry’s “difficult commodity price environment.”

This was a very messy Ch 11 but in keeping with most them the common stockholders saw their stock cancelled.

"In connection with its emergence from chapter 11, the Company is issuing 195.0 million shares of new common stock. All of the Company's existing common stock that had been trading under the ticker symbol "UPLMQ" was cancelled and the existing stockholders received new common stock as set forth in the plan of reorganization. "

Perhaps more to do with the assets being developed by the companies in question ...

... I note that Midstates also recently agreed to "merger of equals" with Amplify Energy

This taken from Amplify's Dec'19 Investor presentation.

Note the:
1. implied multiples, especially PD PV-10 $

2. possible divestiture of EFS

As EM closed off the SNDE press release of Mr McDaniel's appointment

"His success in building a best in class business at Midstates from the ground up and track record of increasing shareholder value will serve Sundance well as we seek to become a dominant player in the Eagle Ford."

... a signal that M&A is in the air (i.e. a dominant player in the EFS) ???

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cmon you cant turn completely negative now you sold down most of your hldng in sea. - lol

we know there is going to be a corporate transaction at some point - we just dont know what it will be.

my big question really is will small cap energy have its day again - there is massive saudi support for oil price but for how long and will shalers care??

i think snde in the med term is going to see the 19 high again but can it get to 68 which is stiflaus call

SEA Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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