GREY:WFREF - Post by User
Comment by
qwqwon Dec 13, 2014 6:44pm
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Post# 23228004
RE:RE:Seeking Alpha article
RE:RE:Seeking Alpha articleHis calculations leave a lot to be desired.
-Q3 G&A was $4.8 mil higher than normal due to Crocotta transaction costs.
Yet he uses this overinflated G&A for all his calculations??????
"Long Run's corporate netback includes $1.50/Boe ($4.8 million) of general and
administration expense related to the Crocotta transaction costs."
-Q3 production was understated by 3000 boepd as a result of the Crocotta
deal closing half way thru the quarter.Therefore revenue and CF was also understated.
-1600 boepd were offline during Q3 thanks to bootlenecks.
none of these have been factored into his calculations.
why he keeps deducting the Q3 derivative loss of $4.5 mil in all his calculations ??????????
His D/CF is based on 9m CF.Average production for the
9m was only 29000 boepd,not the current 38,000
He calculated D/CF of 2.4 the true number is 1.9
His numbers are practically worthless.