Twin Butte Energy Ltd TBTEF

The Hedgeless Horseman

[qwqw]

I checked out Twins hedges over the last number of years.
Prior to this year they were normally hedged up the Ying Yang.
For the years 2012-2015 their % of oil hedged was 50,60,74 and 60% hedged.
Works out to an average of  60% hedged over those 4 years.
It defies all logic how the percentage of oil hedged for 2016 could drop to 8%.
That particular hedge (1000 bbls at WTI $85 cdn) was added during the second quarter of last year.
The lack of oil hedges for 2016 was one of the main culprits for Twins downfall.
I don't have an answer as to why management gambled the farm on higher prices.
What was wrong with $85 cdn ?????????????
Is it any wonder why the banks lost confidence.
All this malarkey should've never happened.