Please see the Monday Post for The Week That Was section covering last week's events as the 2Q14 season wound to a close. In the coming week look for an update Permian Players cheat sheet and several other close of quarter items.
Holdings Watch: Rare week as we closed two fairly long held positions.
- 8/14/14 FTK – Sold the second half of our position taken in 1/18/12 for $8.55 at an average of $27.36, up 220%. In the wake of the quarterly releases we are opting to reduce some exposure to names we find more difficult to follow. Oil Service is not my first love anyway and we've done here but visibility, for me at least, is not what I'd like it to be. We continue to own HAL in Service for now and will be likely adding additional other names in the not too distant future in the Service space.
- 8/14/14 – GULTU - Sold the Starter position taken in June 2013 at $1.98 for an aveage of $2.37, up 20%. The next event for the ultra deep potentially impacting this trust will be in October with the completion of the Lomond North well on the Highlanderpropsect. We may rebuy on weakness prior to a mid Fall (probably Thanksgiving-ish) time frame.
The ZLT Blotter is updated.
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Questions under The Wrap will be addressed in the Subscriber Mailbag section of the Monday Post.