RE:RE:RE:RE:RE:RE:Renegade Announces a $58 Million Capital Budgetrico, I have also bought more.
Other than pure speculation, I always thought there was a compelling case for the sale - more so now after reading the following statement from the press release:
"The $57.7 million capital program and the expected dividend payment of $20.6 million are forecasted to be substantially funded through the Company’s funds flow from operations".
So basically little or no spend / increased debt load over and above what the wells are expected to produce via cash flow. Or put another way, remain status-quo and replace the decline rates with new wells waiting for the company to be purchased. No raising of debt, no real development growth of their existing properties.