OTCPK:BLKPF - Post by User
Comment by
Sensfan65on Mar 03, 2016 5:24pm
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Post# 24619626
RE:RE:RE:RE:RE:RE:PXX is surviving
RE:RE:RE:RE:RE:RE:PXX is surviving Hang in there alta0264. I really think the worst is over in terms of negativity. Their loss of 46 mill this year was mostly (33 mill) the write down or "impairment" of their Mooney assets. The impairment occuced in q4 when they had a loss of 31.1 mill. We wouldve had a positive net income for the quarter if it wasnt for that write down. Plus mooney is their lowest grade asset on the books I think. Also the impairment isnt a "cash" transaction, just a write down booked as a loss so it had no effect on cash flow. They do have a lot less "quality" hedges in place like they did last year, but I don't think it'll be too much of a negative since they've drasticaly improved their operating costs in many areas. It wont be great, but theyre positioned in a way that they can easily grow production when needed I think.
Good luck