OTCPK:VGIPF - Post by User
Post by
InvestorSuperfanon May 10, 2013 5:31pm
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Post# 21364953
Q1 NR & FS Not Much Good News
Q1 NR & FS Not Much Good News A loss of 3 cents per share for the quarter. Net debt of $297 million (with $275 million drawn on it's $325 million credit facility on which Renegade is paying $3.8% interest). Average realized price per barrel of $83.15 (down from $85.80 in Q1 2012). Operating netback of $48.32 (down from $53,39 in Q1 2012, but still very good compared to the netbacks of other O&G companies - the netbacks / SE Sask assets are the saving graces of this company). 2013 annual production is expected to be in the 7,400 - 7,700 boe/d range. There is no indication as to when they expect the strategic reveiw to be completed and decisions made by the speical committee re. the future of the company (asset sales, dividend, proposal to sell the company outright, etc.). Granted, I didn't expect them to have completed the review or announce any decisions with the Q1 results (see a previous post of mine on this board), but I was hoping they could at least give shareholders a timeframe re. when they expect the process to be completed and decisions made. I expect Renegade's annual general meeting will take place in late June as was the case last year.........if they don't announce their decisions by then, I will be very disappointed.