Long Run Explor Ltd Ord WFREF

If oil stays low,run for the hills.

[qwqw]

Penn West and Baytex  have released their Q2's.Both companies have high debt levels
and have mainly oil production, Penn (69% liquids),Baytex (82%). Those percentages
leave LRE's 42% in the dust.The sad part is cash flow netbacks before hedges was not
that much different between the 3.LRE and Penn's was $10 boe and Baytex was $15.
Considering the average oil price during Q2 was $15 CDN higher than present,don't
ask what their current CF netbacks are.LRE is much less dependent on oil for cash flow
than the other 2.The fact that NG is currently 10% higher than Q2's average doesn't
hurt either,also LRE has some good hedges for the rest of the year,unlike Penn
who managed a hedging loss for Q2 ????????
While LRE is paying down debt,others will be lucky to make their interest payments.