RE:RE:Am I reading this right? It's not that bad.
management has a pair of balls and decided to stay with their plan rather than follow the trend of the day. Actual debt balances went down 22-23 million, accounts payable went up because they drilled the sh!t out of the first quarter so the net debt number is higher. Yangarra did the same thing in Q4 and it has worked out for them.
3000 barrels of production growth will take the debt down pretty fast.
23 sections added in a great area.
8000 boe in peace production - stupidly profitable production add.
smart, short term hedges in place.
ARO dropping fast.
stock went up like a rocket yesterday.
generating over 100 million in cash flow at lower prices and 10% lower production versus current numbers
production growth 45% year on year mostly through drilling
looking at 1.40 in cash flow for Q2 - 6.40 annualized next quarter on a 10 dollar stock!!!
Its good to have some growth companies in the portfolio...
the comparison to TVE still applies. Similar debt levels when adjusted for production numbers. Less dilution, exposure to the same enormous trend - trading at less than half of the price of TVE which is also extremely cheap.