RE:RE:RE:Comment on Management Here's what I see - my opinion only.
- The Company lender gets solid interest income on PPR's large debt and has security over all Company assets.
- The lender is ok with all this, knowing well that the Company is not capable of paying some or all of the debt off unless they sell someting (ie. like EVI, which they should sell because it is an asset a dividend paying Co. like Surge should own, not PPR).
- So the debt is getting serviced and G& A is getting paid with cash flow.
- Management and the Board are quite a mature group, getting paid significantly, and not in growth mode, but in maintenance mode.
- Their production/plays/prospects are treading water, at best.
- No game changers in the plan that they last published in their May 2019 Corporate Presentation. Poor disclosure for a public company to not provide a current presentation and a clear diss to shareholders or potential new shareholders.
- PPR mgmt seems to be waiting for something to change their Co. fortunes.
- What could that be? A presentation dated 2020 might help answer the question.
- I have read various postings by others about the potential NAFTA settlement thing (Lone Pine issue somehow connected to T. Granger's prior Co) but still don't grasp how that will save their bacon. Hard to budget anything from that as it appears to be a spec windfall. Great if something happens.
- The best play they have is chasing the channel play in SE AB with HZ wells with high declines but they don't drill enough of them to offset the declines.
Although I use bullets above, I don't have a magic bullet for this Company, perhaps other than to take it out behind the barn and use one.