GREY:DPGYF - Post by User
Comment by
ElJon Apr 27, 2009 2:55pm
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Post# 15947569
RE: Updates today
RE: Updates today
Delphi management appear focused on "living within means" where a match between cashflow and CAPEX in our current business environment seems sound strategy.
If I interpret properly Q1,2009 cashflow will be around $0.13 per share(down from $0.18 in Q4, 2008 caused by the drop in Spot price section of sales) and a cashflow for year of $43 million would be approx. $0.51 per f.d. share.
Management current CAPEX plan($35 to $40 million for year 2009 updated from prev. indication of $35 to $50million range) will probably require clear visibility on trend increase for NG price, before committing more CAPEX for 2009......under current circumstances the "proven reserves" replacement ratio of 2.64 during 2008 is one of the attractive features of Delphi performance as distinct from any expectation, IMHO, for significant growth in production during 2009 over the Q4, 2008 average of 6708 boe/d,
Peace,
Good Decision-making to All,
ElJ