Journey Energy Inc JRNGF

JOY

[baranja]

8.1K production, Electricity production, low debt, low market cap, 100% unhedged.  Insanely low valuation here.  Hidden

[baranja]

8,100 boe/d(1) (45% liquids); 100% unhedged Strategic relationship with AIMCo; Sole lender and largest shareholder 14% corporate decline go forward; waterfloods and other low decline assets supports sustainability $125 million enterprise value; ~$15,500 boe/d 47.5 million basic shares @ $1.15/share; $55 million market cap Forecast Adjusted Funds Flow(2) of $35 to $37 million in 2021; $0.78 to $0

[Roscoe747]

Regarding SP consolodation, the small float prevents any accumulation above retail levels. Shareholders of JOY, at this point, are the more astute or perhaps, stubborn remains of the junior/micro producer segment of the market. As survivors, we tend to buy and sell quite carefully. It is also apparent thar generalist investors are staying away from oil and gas. They may never come back and the

[pennydredful]

Excellent post.   Keep  in  mind  cash   flow   is  dedicated  to  retiring  term   debt   held  by  AIMCO and this debt  has   a higher  cost component  than  bank  debt  so   returns  to  shareholders  needs  to  be  only

[Roscoe747]

Yeah, I'm aware of the debt implications but am responding more to the management guidance that they intend to return to growth in 2022. The concern is not so much 'growth' but the fact that management and shareholders may not be in sync about long term direction, depending on the management compensation strategies authorised by the board.

[pennydredful]

Seems   to me management  and  shareholders   are well  aligned  with   AIMC0  and  Alex   Verge  both   large shareholders  (collectively controlling shareholders)  ,  as  opposed   to  a situation  where   management    hold   few