GREY:ARWJF - Post by User
Comment by
whitehorn1on Jun 01, 2015 9:37pm
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Post# 23786993
RE:RE:Financials out on Sedar
RE:RE:Financials out on SedarBasically, the biggest downfall to ARW was the inability to drill for oil, they had the best opportunity for at least a year(s) when oil prices exceeded above 100 dollars. For some reason, did not follow through, and heaps of excuses. Basically, doing water disposal wells, and no actual drilling. This ineptness to "make hay when the sun is shining" will put the nail in the coffin. Now ARW is faced with 60 dollar oil and production at 118 boepd, with loans of around 1.8 million due in August 2015. It is probably less but that is what is stated on the financials for Mar 2015 which is known. Anyways, production at that rate will make it extremely difficult to survive. Plus decreasing as go forward. CC can say all he wants about such and such i.e 300 boepd, but I'll go by 118 boepd as that is known. CC, your going to fill the pain of at least 1 million shares bought at considerably higher prices.