TSXV:HWK.A - Post by User
Comment by
MikeOxLong7on Oct 31, 2013 11:28am
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Post# 21865307
RE:$1.15 NAV; 0.40 sp
RE:$1.15 NAV; 0.40 sp
Called CEO a couple days ago and had a good chat. Steve mentioned they are currently railing about 60% of volumes through a company out of Lloyd. From a cash flow perspective he mentioned the railing vs pipe was pretty much equal in September but rail will help netbacks in current high diff environment and have provided up to $12/boe upside in the past. They also have about 300 boe/d hedged. Sounds like they have a great management team at HWK with a proven track record working in areas that they have a history of success. They are currently embarking on their Q4 heavy oil drilling program. Should see some of the results in the Q3 report which will be out by Nov. 28th. I expect to see strong CF for Q3 and continued growth through 2014.