Date: Sat, 20 Jan 2007 16:00:08 -0800
when it gets to $2...THEN buy some TMR and wait til 2009-2010 to sell for
nice profit
> n before i posted i got a screen telling me to
> be sure every1 can understand my posts..lol
>
I under stood you wanted us to read the quarterly report...
and I did here's my take from a previous post:
> TMR, nov. 9th, quarterly report. you might wanna read.ASAP.
> to understand tmr.
>
>
yes, from the the Nov9 10Q:
"The increase in average daily production volumes between the two periods
[2005&2006] is due in part to hurricane-related losses in 2005.
"IMPAIRMENT OF LONG-LIVED ASSETS. A decline in oil and natural gas prices
as of September 30, 2006, resulted in the Company recognizing a non-cash
impairment totaling $134.9 million ($87.7 million after tax) of its oil
and
natural gas properties
HURRICANE DAMAGE REPAIRS. This expense of $3.0 million is related to
damages incurred from hurricanes Katrina and Rita, primarily related to
the
Company's insurance deductible and repair costs in excess of insured
values.
INTEREST EXPENSE. Interest expense increased $1.0 million (32%), to $4.3
million for the first nine months of 2006 in comparison to the first nine
months of 2005. The increase is primarily a result of increased interest
rates.
from financial statements:
Sep-06 Jun-06 Mar-06 Dec-05
Total Revenue 46,059 46,540 57,506 64,704 <--seq. decline
Net Income (86,879) 2,843 7,331 14,320 <--seq. decline
Retained Earnings (222,100) (135,221) (138,064) (145,395) <--debt
drilling new oil wells cost money
Capital Expenditures (42,571) (30,433) (34,629) (29,075)
I used to own TMR, I think in 02 and probably sold out around $4 if
memory
serves, so I remember TMR with fondness..
it'll be a long painful climb but if you pick up TMR when it legs down to
$2, but you'll have a genuine 4 bagger or better around 2009-2010