RE:RE:RE:RE:RE:BIR's Reserves, CKE's Reserves, BIR's Net Debt ratioFirst of all, let's not pretend that CKE and BIR are peers. kind of like a 3rd grade special needs student and a 12th grade honors student wouldn't be considered peers....IMO.
What part of what i said was fabrication?
That CKE is a high cost producer (almost 2x what it costs BIR/BOE....including all that interest BIR has to pay on their horrifying debt load)?
that they have retained earnings of -$600 million? hint: it's on the balance sheet....near the bottom.
that they are burning through cash at an unhealthy clip (as production falls significantly). Positive working capital has gone from $75mm to $30mm in the last 12 months and the company's production has gone from 8000 boe/d to a little under 4500 during that period?
That the company's management are flip floppers? Did they not spend a bunch of money to acquire assets in Tunisia, only to sell them (at a substantial loss IIRC) to focus on western canadian assets?