Russ Porter, CEO made an impressive presentation at our luncheon today. It should be available for you to download from our Home Page today. Take a hard look at the pfd. stock which has a double digit yield. - Dan
Gastar Exploration announces 138% increase in proved reserves; Co expects first quarter 2012 production to range from 26 MMcfe/d to 28 MMcfe/d (GST) 2.89 : Co reported year-end 2011 proved natural gas, oil and condensate and natural gas liquids (NGLs) reserves of 119.7 Bcfe estimated in accordance with SEC regulations. This represents an increase of 138% over year-end 2010 proved reserves of 50.3 Bcfe.
Of the 119.7 Bcfe, 76.6% were attributable to natural gas, 9.6% to oil and condensate and 13.8% to NGLs.
The pre-tax present value discounted at 10% ("PV-10") of the estimated proved reserves increased to $217.1 million from $67.3 million at year-end 2010.
The Board of Directors has approved a 2012 capital budget totaling $134.2 million. Based on the approved capital expenditure budget, Gastar expects first quarter 2012 production to range from 26 MMcfe/d to 28 MMcfe/d. During the fourth quarter ended December 31, 2011, Gastar USA issued 554,044 preferred shares for net proceeds of $10.5 million resulting in year-end 2011 total preferred shares issued of 1,364,543 for net proceeds of $35.5 million. To date during January 2012, Gastar USA has issued an additional 499,387 preferred shares for net proceeds of $9.4 million.
GST Pfd Stock
GST Pfd Stock
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: GST Pfd Stock
Gastar's pfd stock is listed as GST-PA by Yahoo Finance.
Gastar Exploration 8.625% Serie (GST-PA)-AMEX
19.50 0.00(0.00%) 2:55PM EST - Nasdaq Real Time Price
Gastar Exploration 8.625% Serie (GST-PA)-AMEX
19.50 0.00(0.00%) 2:55PM EST - Nasdaq Real Time Price
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: GST Pfd Stock
If any of you want to buy a large block of GST pfd stock ($50,000 or more) send me an e-mail.
dmsteffens@comcast.net
I have the brokers name who can sell you a block directly from the company. This way your money goes into the company and you may get it cheaper.
Current yield on GST Pfd is now over 11% and it is classified as tax deferred return of capital (reduces your basis).
dmsteffens@comcast.net
I have the brokers name who can sell you a block directly from the company. This way your money goes into the company and you may get it cheaper.
Current yield on GST Pfd is now over 11% and it is classified as tax deferred return of capital (reduces your basis).
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group