GREY:PEYTF - Post by User
Comment by
alxorenon Mar 31, 2015 11:34pm
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Post# 23585022
RE:What Is Management Thinking!!!
RE:What Is Management Thinking!!!The EPS of -3.22$ is becuase PLT wrote off 185$M of the values of its reserve ... this is about 3.3-3.4$ /share. Without this write off, PLT would have ended up with about 0.1$ for the 4th qtr.
The problem is that the avg oil price for 4th qtr was about 70$/b ... and the PLT mix price for the sh*t they sell (condensates..NG... NGL.. etc...) was 33.6$ .
Expect the mix price in 1st qtr of 2015 be about 23$/b... and you will start seeng operational loses and negative EBITA ... The distribution will be gone for the year at least .... but again... The LONG TERM survival is what important to the share holders !!! and not a monthly 1cent perk which is deducted from the share price anyway.
biloshi wrote: The numbers here tell me that a distribution at this point makes no sense!<br /> <br /> PLT.UN share price today = 28.5 cents<br /> <br /> Crude Oil has fallen from $107.30 to $47.67 today<br /> <br /> This company has a bank debt of $156M on a borrowing base of $190M.<br /> <br /> EPS (ttm) is at MINUS <span style="color: #ff0000">$3.22</span><br /> <br /> <br /> Yet management sees it fit to pay out $6.7 Million a year in distributions!!!<br /> <br /> Pray banks don't increase interest rates before oil recovers someday! <br /> <br /> Cheers!<br /> <br />
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