RE:RE:RE:Did Not See This ComingI noticed that Impega.....in SEDI is showed that Nick had a share ownership balance of 20195 and an option balance of 295,000. It appears that poor old Nick merely exercised the remaining balance of his options and just left his share balance remaning of the 20195.
As you say ......not issue.
You are in my camp on this impega. The crying towels should have come out if the first two wells had come out below expectations not a project delay for all the right reasons and a marginally lower guidance number with all the explanation right there for all to see.
There $295 million capex is FULLY funded by cash flow....no borrowing required. and the only balance they are carrying forward is less than the debt they acquired to fund the Valiant purchase.
Th e current PE is 4.5 and the current twelve month P/CF is 2.75. Extremely cheap for a company that is highly derisked to 25000-30000 boepd in the near term. A current debt to cash flow of 1.1
Let the short sighted sell and thank you!.....I am buying more.