A bunch of you guys are getting pretty gloomy here lolHas anyone realized the timing effecting this quarterly report? It was pretty much a toss away 2 weeks after the quarter ended while we just received it a few days back, it doesn't really reflect current values well at all... It's a moment the market is getting things wrong...
Start of July the oil price shot up...and we are now sitting about 11-13 over the 71.56 they received per barrel last quarter, taking out the increased expenses in increased royalties (I believe capex is suppose to stay similar to last quarter), maybe we are setting up to average over $7/barrel more on a Netback basis (that's a low napkin number I pulled out)... all other things being relatively equal, that should be around $13.2 million extra in free cashflow, which would be around 1/3 increase from the quarter they have just reported...
I would be looking forward to the next report if the oil price stays 80-85, and it's likely we see Bank Debt drop like $10 mill, and maybe some buy backs (as this miss pricing is a fine time for that)...
I'm pretty excited I picked up more shares in the high 6s last few months, I feel the jump we all want is coming, it's just not going to happen following the oil price every day, it's already well deviated from that... This is where you find opportunity...