Sometimes its easySub 1.0 x CF at $75 oil
Downside hedged away
11K Bbbls of light sweet oil in Sask with a market cap of $143M
Dilution only occurs with the stock trading 35% higher than current price, at which point its trading at 2 x CF, but has zero debt.
People have to make up the most absurd stories to try to justify why things are unjustifiably cheap, and this is one of those times.
Ignore the stories, dig in hard.