What Did They Say?
Light CAPEX spending, which I do understand in this volatile CDN enviro without enough pipes. Not sure why no Michichi wells mentioned as it is their key play. I guess the reserves aren't going anywhere, which I expect they will say.
Also not sure I get the $8.5MM in G&A expense (hope that was not a typo in their NR, I hope it is) which is about 44% of 2019 CAPEX and 40% of their forecast 2019 CF of $21.1MM.
Not spending much but paying $8.5MM to keep the ship going forward? MGMT or Mackie should be challenged to explain that one.