RE:RE:Re: Debt Kontrary wrote
Thanks, I see that now. Production dropped from 17,092 BOE/day at the end of Q3/20 to 15,132 BOE/day at the end of Q2/21 (although, to be fair, some of that was due to dispositions as well as decline). Apparently it's now up to 17,642 BOE/day due to the Astra acquisition (and they only had to issue a boatload of high-priced shares and add $27M in debt to do it).
I've owned Surge since 2015. I bought it because of the potential of the Sparky area and what I thought was a good management team. I've kept holding even as they've steadily levered up the balance sheet and failed to live up to their rosy forecasts.Now I'm supposed to have faith in them because they say "don't worry, we'll be making lots of money a year from now and all of our financial ratios will look better when we report on that in April 2023."
At this point, I'm beyond frustrated with this company. I sold my cash holdings last week because the capital loss will help me at tax time, but I'll still hold the shares I have in my RRSP because I figure most of the damage has been done and there might be some upside. Meanwhile, while Surge is still trading at its 2020 levels, all of my other O&G investments have at least tripled.
It appears that the market feels the same way that I do.
soundandfury wrote: Thats because they lost control of their production ..........their decline rate caused production declines year over year which in turn made its hedges include a greater part of a declineing production.........this was caused by lack of cap ex due to no cash flow which compounded the problem.......sgy decline eats up 4000 bpd annually and thus requires constant cap ex which sgy could not do.
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"Now i am supposed to have faith in them because they say "Dont worry" well be making lots of money in a year from now."
Nobody is telling you that you have to have faith in them thats your own decision to make.
If you dont have faith you can sell anytime and go buy into a company that you do have faith in.
And do us all a favour and take s&f with you.
Personally i wouldnt miss either of you.