gaf63

Anyone interested in buying the D series pfd., they are trading over the counter with symbol of SSWPF Traded today from 24.9 to 25

Corn states lead $25 bil crop loss payout, and how much of this amount was covered by FFH's subs.? Will be an interesting qtr. report http://www.bloomberg.com/news/2012-10-17/corn-states-lead-record-crop-loss-payout-bgov-barometer-1-.html

Thanks for posting the NG info from the conference, G

I have been in and out of PDS since 09, sold out when it ran up to 17. Am now back in. As I read it , their debt is fixed at about 6.65% and first tranch due in 2019. I think that rising rates would affect them if they have to use their credit line. This use could come about if their op. cash flow declines and they cant fund their new build rigs from this cash flow. They have about 15-20 rigs left to build for this yr. All are contracted to long term contracts, 3 yr. in US, 4 yr. in Canada. The Grey Wolf acquisition happened at end of 08, terrible timing. During 09,10 they paid down their debt to ~24% of equity. The debt is now back up to 57% of equity from funding the new builds which is at a high end for them, PDS could languish at this level for a while with oil prices at this level or lower. As Uccmal mentioned , the cap ex is high and if slowed down would allow them to use cash flow to pay down their debt, and return something to shareholders. Think that the price wont move back to the highs until they do. Gaf

Thanks for the notes and all your work, good info for those who cant make it to Toronto

Apache said that their cost per mcf is $.50 and that they werent cutting back production. Cant see how they can do it unless it is associated gas.

Also Cheniere Energy has obtained financing and will begin construction this year http://phx.corporate-ir.net/phoenix.zhtml?c=101667&p=irol-newsArticle&ID=1665726&highlight= Looks like these plants are 3 - 4 yr projects , plus time for permit hell with the local govt.

In looking at the div. info on SSW's site I see that there has been a return of capital in most years. Until 2011 all my SSW shares were held in IRA accounts so my brokerage never reported the divs as qualified or not, and I was unaware of the div. treatment. The IRS will get paid one way or the other tho, just delayed, G

Thanks for posting that info JEast, news to me. Did SSW provide any info, press release, as to this change of div. treatment? GAF

Heads up for US shareholders: doing my taxes and found out that SSW has restated their divs. as non div. distributions for income allocations. So the divs. are not qualified divs as in years before and the tax due will be at ordinary income rates in taxable accounts. Would think they would have contacted shareholders of this change. Hopefully I dont end up with an underpayment penalty. Scottrade is looking into this tax treatment and I have an email in to SSW inv. relations.

Thanks for the link to the transcript rijk

According to the 4Q report they did sell 51% of treasury bonds at the sub level for an increase of $1.67 bil Major movements in portfolio investments in 2011 included the following: subsidiary cash and short term investments including cash and short term investments pledged for short sale and derivative obligations increased by $2,809.4, primarily reflecting the sale of approximately 51.4% of the company’s holdings of U.S. treasury bonds (measured using amortized cost) with the $1,673.7 of proceeds from the sales retained in cash or reinvested into short term investments, net cash received in connection with the reset provisions of the company’s long and short equity and equity index total return swap derivative contracts and the consolidation of the cash and short term investments of First Mercury and Pacific Insurance.

Have been wondering when they would get to announcing the div. , They kept it the same , no raise, Their phrase "sustainable" is trumping their " progressive" Seaspan Declares Dividend of $0.1875 Per Common Share for Fourth Quarter 2011 HONG KONG, CHINA -- (MARKET WIRE) -- 02/03/12 -- Seaspan Corporation (NYSE: SSW) announced today that the Company's Board of Directors has declared a quarterly dividend of $0.1875 per common share for the three months ended December 31, 2011. The dividend will be paid on February 22, 2012 to all shareholders of record as of February 13, 2012.

21.3 million shares were tendered and SSW will buy 11.3 mil of them, approx. 53%, so about half of shares offered will be purchased and the rest returned by Jan. 19 http://finance.yahoo.com/news/Seaspan-Announces-Preliminary-iw-1392777767.html?x=0

Hah! I'm just waiting for some poster who shall remain unnamed to jump all over you for that one! Yeh, the unnamed did cross my mind when I was writing, as to LVLT, if there are no improvements in cash flow in the next few qtrs. I'll have to bite the bullet and move on