Net loss!$46 mil net loss for the qtr......hmmm ........who said $200 mil?.......juuust a bit outside!
Going from -150 to -46 is going to raise some eyebrows.
I would also like to re-itterate that the forex hedging committments (losses) for this year are a result of the dire situation that presented the market in 2009. OPTI had to lock their debt at that dollar amount in case the economy tanked farther, and the Canadian dollar/oil continued to struggle. Otherwise OPTI would have had nothing left to stand on and an even larger mountain to climb....so it was an insurance policy in case things got worse.
Hopefully, if OPTI does hedge for 2011 they will no longer have to worry about another depression and maybe even make some postive forex hedges as they have in the past.
It also seemed very evident that the forex hedge committments are pretty flexible as to when they have to even up those losses too.
Now that everyone sees that OPTI is not going to run out of money any time soon, the price should improve. It might take a few weeks for all the light bulbs to kick in but once the new "market reports" get generated, we should see some healthier forcasts coming into play.
40K would have been nice.......who said that ? Mr retirement! Thanks.
Giver.