Post by
elgaveeno on Aug 13, 2015 11:37am
June production numbers are in.
Milo/Clarke Lake appears to be shut in sometime in June. Only 13 days of operation. Average prodcution in June net to QXP for this area is around 280 BOED. No production from Sask. Relatively flat for the balance of their operations. Exit Q2 production estimated to be 1,145 BOED. That's 26% less than the July presentation numbers. I would call that material. Investors should be asking why Milo/Clarke Lake is shut in and what impact it has on revenue.
I predict a loss in Q2 from factors including lower revenue, higher op costs, and settlement costs.
Comment by
rizac on Aug 13, 2015 2:05pm
Spectra Ft Nelson and Mcmahon plants were shut down for a month due to turn arounds and repairs. Affects all producers processing at those facilities.
Comment by
elgaveeno on Aug 27, 2015 11:57am
Missed exit by 5 Barrels... somehow the President convinced the board to book a fictitious purchase price of over $2.2M for 20 bbl/d as EARNINGS. EBITDA. Wihtout that very irregular, and potentially offside item, the real operation EDBITDA was $700K for the quarter.