Post by
TonyDj on Nov 06, 2016 10:28am
TORC is doing the same thing.
Here from their news release. It looks like NBZ has less debt. During the second quarter, TORC declared dividends of $9.8 million of which $4.8 million was paid under the share dividend program; At quarter end, the Company was drawn $241 million on its credit facility, with net debt of approximately $299 million; During the second quarter, TORC's credit facility was reaffirmed at $400 million; and Subsequent to the end of the second quarter, TORC announced strategic acquisitions of primarily complementary southeast Saskatchewan properties producing 1,200 boepd (95% light oil and liquids) financed by a bought deal public offering and a private placement to TORC's cornerstone investor (CPP)
Comment by
tvstock on Nov 06, 2016 6:22pm
TOG's dividend rate is much much lower. That is why the market is forcing NBZ to cut its dividend. The real danger here is a drop of NBZ's stock price below $3 on closing, which will trigger margin calls.