GREY:DPGYF - Post by User
Post by
jerrybeon Mar 01, 2016 12:01pm
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Post# 24609093
Very nice reserve report
Very nice reserve reportWith new wells coming in very strong. DEE is definitely a solid little player in the space.
But I actually sold a majority of my position last week. I just felt it was dead money relative to other players. That being said, I still like the firm and its management.
In a tough environment, it simplified the structure of the firm by selling all non-Bigstone assets, reduced debt, improved drilling results and stayed basically within cash flows by switching to the US market (for their gas marketing) and having solid hedges in place.
You cannot fault this management. They also reduced the firm's employee list from 36 to 24...all tough decisions in order to survive. I still prefer the likes of Surge Energy but DEE will rebound sooner or later.