OTCPK:ARNBF - Post by User
Comment by
oilnvstron Aug 17, 2012 9:57am
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Post# 20228556
RE: RE: Don't listen to Jazzfest.
RE: RE: Don't listen to Jazzfest. I'm not writing off my investment in ARN just yet.
They still have a ton of prospective undrilled land they could farm out. That could add enough production to keep corporate rates flat at 4500 boed.
They can also sell some land for cash to help reduce debt.
They'll have about $15 mil per quarter of FFO to pay down debt and continue a limited drilling program.
Doug Penner has over a million shares so he is motivated to get the company back on track.
I'll wait till Q4 before I make a decision on whether to crystilize my losses.