GREY:LSTMF - Post by User
Post by
jerrybeon May 05, 2015 6:56am
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Post# 23693878
Another quarterly results that leaves me disappointed...
Another quarterly results that leaves me disappointed...I am not quite sure what I expected but I am disappointed by the lack of any details in this report.
Mostly good news I guess. Production costs are down. But with all these dispositions, it is unclear what is driving what. It seems they did quite a bit of drilling and with these wells coming online in Q2, production numbers should be holding quite well. Now a 35K boe/day firm with an enterprise value of about $2Bn, someone has to explain to me their high salaries relative to other small to medium E&P players. Almost absurd.
The good news is that debt is being renegotiated and clearly they are close to clinching a new facility. The BK/debt restructuing risk is lower now than three months ago.
The other good news is the two "high impact" Fahler gas wells coming online soon. They have great acreage in the Cardium and should be pumping out really good wells...but they rarely disclose any details.
I am so much more excited by my other holdings but down 85%, I will keep holding, hoping for a buyout. GLTA! Do your own D&D but I check out stocks like SGY, PPY, or BXE, much better management.