RE:Pump Harder Honey TrapSorry MustangMatt, i understand your concerns because of your CPG involvement, I could see having the same cynical view of the world looking at the internally generated prospects generated by the CPG management team. Over paying, issuing share, to much debt on the balance sheet for me.
A lot like BTE that just raised 500 million at close 3 year notes costing them 8.75 percent, so your right likely when it is all said and done they are paying 10% interest.
Kelt is kind of a different company than BTE who claims Ranger Oil was technically incompetant and it they bought their eaglesford acerage in belief they could hit a home run, Eric believes this as well, in my opinion its a comedy act, the eagelsford it technically difficult.
Kelt is a little boring, no massive share purchase, no debt, a CEO that doesn't take a paycheck, NAV of $22.75 a share. A budget that is pretty well covered by cashflow, and massive reserves that added 27% in value to every fully diluted share.
It is hard to compare, when your looking at a company that increased its NPV10 Proved reserves 47% in 2023 organically.
IMHO