RE:RE:RE:RE:RE:RE:what a disappointing release of Q1 earningsLet me have a crack at this Wolf , for starters , the only way Q1 was a disappointment would be if you bought at $7.05 yesterday expecting a pop today for a quick flip .
I will admit when I first saw the FCF number , my first thought was WTF !!!!! BUT , as I stated multiple times already I continued reading and discovered the capex investment . Further to that , BTE made a great move by making good use of the frozen ground and drilled wells that were not scheduled until later in the year . I vaguely remember some here whining that BTE wasn't moving fast enough in the Clearwater play , it all reminds me of my effin ex-wife . Its too hot , its too cold , why are you watching THAT , who are you looking at , when will you paint the fence and on and on and on and on ........ Looking back on it , I think she was easier to please than this market , lol .
As far as what I heard from Eric on the conference call , he was thrilled with the flow rate in Clearwater and was looking for direction in 2023 after $800M debt is reached . I distinctly heard him say "I don't think people realize the value here" . Ed and the board have a plan , they have been very clear what their targets , direction and timelines are . Last year people would be gushing praise over this report but today even if there is no reason to whine the pundits will nit-pick some ridiculous detail and act negative . Whether they like it or not , BTE is making money and building a well constructed production profile which will be rewarded in FCF and profits . As I said before , I am not going to trigger capital gains when the pennies of profit leave me with a bigger tax bill .
You and I are old enough to see (and know) whats going on here , as you said the kids have never seen a market that doesn't always go up . Once all their profits have been reclaimed by the banks , market sentiment will snap back and another generation will have been bamboozled by the crooked casino . BTE is actually profitable so they will be fine , companies like Rivian (EV maker without a factory) could go to ZERO .