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RMP ENERGY INC T.RMP

"Iron Bridge Resources Inc, formerly RMP Energy Inc is a crude oil and natural gas company engaged in the exploration for, development and production of natural gas, crude oil and natural gas liquids in Western Canada."


TSX:RMP - Post by User

Comment by bplondonon Nov 13, 2015 4:50pm
137 Views
Post# 24290371

RE:RE:RE:RE:RE:RE:Takeover rumours abound

RE:RE:RE:RE:RE:RE:Takeover rumours aboundGo back and re-read the financials. Specifically:

"RMP recorded a net loss of $45.3 million in the third quarter of 2015, as compared to net income of $18.2 million in the comparative third quarter of 2014. The Company recorded an aggregate non-cash impairment charge to the carrying value of its property, plant and equipment assets of $51.5 million, which is directly attributable to significantly lower future commodity prices forecasted by RMP’s external reserve evaluators. The impairment charges had no impact on the Company's cash flow."

In other words, they took an accounting writedown on equipment, plant and property of $51.5 million in the third quarter. Factor that out and you have 5 cents a share in net income to go with the 14 cents a share cash flow. 

The financials are reflecting that they are, in fact, in very good shape. 

There were probably a lot of sellers today that don't really understand the financials though ;)
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