Twin Butte Energy Ltd TBTEF

RE:RE:RE:RE:RE:RE:Excellent Q and debt reduction

[bshort92]

At one time they were growing via strictly through acquisitions by issuing highly dilutive shares and taking on toxic levels of debt all the while paying out a dividend. They actually had a punchers chance to be a decent oil player. They have since fumbled repeatedly on the operational execution side. Have since lost close to 9000 boe/d production.Now they are toast and at .37 with 360 million shares out there market cap will by $133.2 million on 17,300 boe/d production and $307 million of debt =$440 million enterprise value or $25,400 per flowing boe if they trade down to .37 tomorrow which is entirely possible. Shows you why Saunders walked and brought in the saviors from PWT. The divvy is still a problem. Why pay it if you can't grow the company? Transitioning to higher value medium barrels. What a crock of BS! This is the epitome of dead money. Still baffled why Peters was on the buy today. They must have their own agenda being privvy to the Q's results prior to the public disclosure. Go figure. Let this garbage ferment and in a year the shares might be investable but for now the company is not worth even a discussion let alone analysis.