US$30 million CFO more per quarter Q2 averaged US$80/bbl as reported
Approx. US$15/bbl more at current Brent pricing
22,000 bpd x 15 x 30 x 3 = approx. US$30 million more CFO
Q2 Adj CFO US$70 million Adj FCF US$37 million as reported
FCF basically 50% CFO
Basically US$15 million additional FCF per quarter
Add US$37 million = 52 x 4 = US$208 million annual FCF
Basically US$2 FCF per share or CA$2.67
Assumes sustainability of current operations and no expansion
Add 10% and then some .... easily CA$3 FCF a share
3 x 2 = CA$6 SP ... x 3 = CA$9 SP ... x 4 = CA$12 SP
No wonder why the COO keeps buying