Fresh Tracks Therapeutics Inc V.BBI

RE:RE:RE:RE:RE:Mumbo Jumbo

[uncutgems]

I think  they are 78% pro forma liquids cut

they are going to be producing 200 boe/d in 2024
also they are going to be paying down $500m of debt out of FCF

so 2024 debt is $2.4 about 1x ebitda.

I expect them to start paying a big dividend next year similar to whitecap.

this is a way for WEF to get some cash out without selling shares.

I think this company has the smartest management in the CA oil space. I guess you're paying up for that.

I would suspect that the big holders of PIPE will be selling into strength if we have any next year.

this is also going to be added to the index when it qualifies.

I am not sure if waterhous is going to get out of this, or keep growing it. that will be something to watch for. 

While WEF won't be a seller, one way they could monetize is distribute shares to the limited partners of the fund. that could pressure the shre price next year.

I am going to be watching their carbon capture strategy. That seems like a direction AW could take this.