RE:RE:Cedric Croatia
Their payout is targeting 100% but they are spending more on E&D than last year and more than they have ever spent excluding 2014 leading to the startup of Coribe.
They spent $294 mln to date which is a good chunk of the $550 mln or so E&D cap ex for 2019. They could easily cut back on cap x later if need be. I should not have said "well below" but I feel they have lots of room and flexibilty especially with a relatively low decline rate, exploration success, and according to them a better capital efficiency ratio. When you first joined this board, you were concentrating on the Q1 payout and spreading fear amongst us all by suggesting they were potentially in trouble if their payout did not come down below their cashflow. You lectured us on not to spend more than you earn. You were misleading and you did not understand how to interpret or read their financial statements regarding netbacks. You were wrong and did not correct yourself and explain to others on this board that your statements were not correct. You thought I was an idiot and said so on another board and said I was making up accounting rules. You mislead us by impying the payout was not calculated properly by them since they still had financing charges to pay that they did not include in their calculation. They did calculate it correctly and I showed you that and you finally agreed but your arrogance could not be overcome and your apology was feable.
Why are you so negative? This company has challenges but you are relentless commenting on everyones post. What is your agenda? (don't anwser that) You have nothing to lose but many of us are shareholders and your negative slant is disturbing. Vet does have challenges but one of them is YOU.
splurge