I have made a new investment.
Gastar Exploration 8.625% Series A Cumulative Preferred Stock
(NYSEAMEX:GST-A)
Basically the preferred’s are yielding 10%, with a 25% bump if the issues are called. The way I see it is tha tthe firm is selling at a discount to its net asset value because of poor natural gas market. Hence common stock is doing poorly, but preferred’s has a nice dividend, and I don’t need to wait for a catalyst.