Twin Butte Energy Ltd TBTEF

RE:Crash and burn

[bshort92]

Jeff Young a previous bull on TBE was on BNN tonight. He said management has lost credibility over the Primate property being a total write off. Seems like the sharp money knew that in January. Everyone knew it but management as they fiddled and fussed and prayed the reservoir would stabilize and keep producing. It never really came back and then it died. Makes the EME ($170 million for close to nothing) deal look real bad at this juncture. Mackie stayed on the sell all day today. Still wondering if the divvy will be halved...a probable move to get some more capex back into the story to get production back up. Expect that with the disastrous Q2 numbers mid August. I'm projecting another $30 million loss. This outfit is gonna need at least a year to get their production in order. The present technical team has not really earned much distinction for exploration. More of a maintenence crew grandfathered in by the rapid expansion. Now that the story is dead might as well try to reinvent through the bit since you can't do a deal with equity because the shares are so depressed and now the debt is guided to go back close to $205 million by year end to to keep production at 15,500 barely able to maintain the current divvy at under 100% cash flow. The debt might also kill a future merger let alone a hostile takeover by a player trying to steal the firm at this level. They are in a real jam. You still have the dopes at Raymond James spinning that the token wells at Wildmere are going make a difference. These so called experts are delusional.