RE:RE:RE:RE:RE:WTF just happened today?Secondly at the current oil price, NBZ is taking home $12 a barrel today after all costs included. So the positive to this is that they are profitable. Now another reason i think the stocks been slammed is that I believe the dividend will be cut.
Current projected production looks to be 21,600/day.
Giving us a year total of 7,884,000bbls.
Total barrels x profit = 94,608,000/year.
107.6m shs OS X 0.08 x 12 = 103,296,000
Profit - Dividend = -8,688,000
So currently their dividend payout is 109.1%.
Companies cannot keep these going forever. Watch for a cut in earnings tomorrow.
Throw.