Sitting on their Hands
18 months of sitting on their hands , and about two years to ditch the majority of their dismal hedging strategy, do you think that maybe ARX is about to turn the Quarter?
Maybe the Blueberry's are helping ARX to do the Right Thing, and maybe for the first time since the merger we may see a bump up in production from Kakwa, their moat prolific and economic play area, that exists in their porfolio, and it only has about 40% of it plant capacity utilized.
With the money they spent on Q3 buyback you could of got almost 75 cents a share in a dividend, do you think the value of the stock is going up because of company performance, or is it simply all the FCF is going to share buybacks. There has been zero production growth to date.
Lets hope they are turning the quarter, and the production number for Kakwa will be significant, as Attachie/Sunrise are not sanctioned projects, and they have finally realized they can't sit on their hands for ever.
Q1, 2023 will be significat increase in cashflow and finally the will get out from underneath, the most stupid hedging program, in Canadian Energy, thank Bibby for that.
I think ARX is mis priced, but i do see a repricing taking place until 2023.
IMHO