Oil price sustainable?Not sure if current oil price is sustainable at all in the long term.
Yet I think Northern Blizzard would still make money at the current oil price even after the hedge ends. But also think that oil price would not be below $50 in the long run.
They are reducing cost, capital expenditure, and paying back debt.
Might be just trying to scare away individual investors by failing prices more than the dividend payment so people would sell out realizing the loss. Two big equity funds holding 71% of shares does not care because they benefit more from lower price in terms of share dividend plan.
Maybe I'd buy in if the price falls further and apply for share dividend plan. That way, I am at least doing better than the two largest shareholders who are not also dumb but should be very smart investors.