Bronte Capital

The sometimes eccentric views of John Hempton

Saturday, April 2, 2011

When senior executive pay becomes parody: Transocean edition

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Transocean awards bonuses to senior management at least in part based on safety.  That looks honorable to me. But as the WSJ reports : T...
10 comments:
Friday, April 1, 2011

Northern Oil's expanding share count

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I had to double-take when I wrote this.  Over the past two years Northern Oil has had about 60 million dollars of revenue.  It has issued ro...
11 comments:
Wednesday, March 30, 2011

The guy in charge of purchasing acreage at Northern Oil

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Northern Oil is not a traditional oil exploration and production company. It has a simple model. It buys part shares in acreage in the Bakke...
17 comments:
Tuesday, March 29, 2011

Northern Oil related party statements

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From the 10K - presented without comment NOTE 7 RELATED PARTY TRANSACTIONS  The Company has purchased leasehold interests from South Fork ...
2 comments:
Monday, March 28, 2011

The marvellous Wall Street capitalization machine: Northern Oil edition

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Northern Oil has its defenders and the defenders tend to point to one thing only – the value of Northern Oil's acreage.  After all you w...
11 comments:
Friday, March 25, 2011

Northern Oil and Gas – the source of the strange auditor

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There are lots of things that I do not know about Northern Oil and Gas.  The thing I would most like to know are the flow rates on their wel...
7 comments:
Wednesday, March 23, 2011

The Street Sweeper on Northern and Voyager: Part 2

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The Street Sweeper has published Part II on Northern Oil and Voyager Oil . Linked without comment.
4 comments:

Northern Oil and Gas: It's only a Northern Song

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I have been sitting on this post for while pending the publication of an article by Mellisa Davis (of The Street Sweeper).  She has now  gon...
27 comments:
Tuesday, March 22, 2011

Starr Asia sues CCME and others

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Presented without comment (antecedent post here ): Starr Asia sues CCME et al
4 comments:
Monday, March 21, 2011

China Agritech: How should I reply to Kevin Theiss re China Agritech?

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Forgive me a brief gloat about a successful short. China Agritech has fired its auditor after the auditor threatened to resign.  NASDAQ ha...
16 comments:
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