GREY:QEXXF - Post by User
Comment by
ratpoysenon Nov 05, 2015 6:01pm
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Post# 24263942
RE:RE:The Production And Reserves GROWTH Is Going On
RE:RE:The Production And Reserves GROWTH Is Going On Come to think about it, I think the pumpers were trying to cover up Elga's post...
Seriously, they just aquired more liablity and zero production for zero dollars. Saying they bought 444,333 boe in a press release is not a factual statement. They bought proven and probable reserves. None of those reserves are economic. What it will do is enable management to artificailly book earinings again in Q4 based on the hillarious share pricing scheme of $2.50. The vendor gets all thier deposits back, gets off thier liablilty, and could care less about the shares.
So no production growth and no cash to turn these wells back on (like the last deal they did in B.C.) beacsue if they did, they would burn through their diminishing and fixed (maxed out borrowing line) working capital while operating at a loss.
The only value comes from the continued scheme to show reserves being more valuable than netback, and dam the mounting liability.
Seriuolsy, this is no way to manage a public company.
Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.qxp/quattro-exploration-and-production-ltd#uV0Spg6IVFpiKpm8.99