RE:RE:RE:And we think Albania is badagspo63 wrote:
Yes, you are right, at $30 Brent, its netback per barrel is $2.88
I have read the 7$ figure a couple of posts bellow and I got carried away :D
Still it sounds much better than negative netback as we can see on most of the other canadian companies... let's try to be optimistic, at 29.20 closing price today for Brent the situation is quite bluish... and it's albania
The $7 includes the small 20% hedge (4.15 a barrel) at $30 brent. So yes they do make $7.03 a barrel for the rest of 2016. In 2017 it would be $2.88 if no new hedge is placed and brent is still $30. If that happens at least we'll still be here, financially sound, low debt, albeit with a little less production. For at least 50% of other companies that scenario is unfathomable. For example, take CPG, from what I can see, they had negative cash flow without their hedge in Q3, who knows what Q4 or now Q1 will look like. BNK had 31 million cash flow without the hedge in Q3. Yet CPG is down 70% from their peak. BNK is down 90%...........