MyHoneyPot wrote: I am sorry, but i guess that you have to let the facts speak for themselves.
Fact 1
A company with the largest hedging losses in the entire patch, is realy a good example of what not to do, and the fabrication by the posters that those hedges were all in place I no their wrong, show me facts, stop with the lip service.
Fact 2
Kakwa had a history of 240,000 boe/day of production, and it alway has been and always will be ARX highest netback property, Arx is still lagging, what do you think they could of done with 1.2 billion lost on hedging in 2021, do you think it would of impacted share prices, all $2 a share in FCF lost. Expect them to repeat in hedging loss leadership in 2022.
Fact 3
Arc did recogonize to their credit that they had an entire gas plant built that no one could explain the rational of having, even the seven generation management that were there could come up with rational regarding the plant. Now they have come up with some ideas according to shaleguy to repurpose and this could have a big impact on growing Kakwa production into the future. Good on them, its been 3-4 years in the making.
Fact 4
Attachie has been a 7 year distraction consuming capital, and still to this day has no first nations agreement and no start date, treaty8 struggling. Really why are they so eager to throw money at a project that has no first nations agreement. My past experience in these matters says that does not work, a recipe for failure, and these issues are alway very messy.
Fact 5
Perhaps with now
$7.35 U.S. Natural Gas a little more take away at Kakwa may of been a good thing.
I think that old ARX was run by the CFO and CEO and really not a lot of other senior management, they could not handle Holt who was likely a real COO, he stepped on bibby toes a few to many times is my guess.
Kakwa is the future of ARX resouces and as Kakwa goes so will ARX Resources. That is the only reason i think ARX is investable at all.
IMHO