GREY:PRBEQ - Post by User
Comment by
snootchybootchyon Aug 29, 2016 6:55pm
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Post# 25188874
RE:Q2 Results Press Release Out
RE:Q2 Results Press Release OutThey were able to generate positive cash flow this quarter, and I would think a net profit should be possible by the end of the year considering revenues should increase by at least 50% in the second half of the year just from the Gulf of Mexico decommisioning contract on its own. The report seems pretty positive to me and I think we should be out of the woods but the stock is trading like bankruptcy is looming.
The press release also said they are evaluating acquisition opportunities. I'm guessing these will be "sunset" fields, is that right? Seems strange considering Rooster has already shut in and abandoned some fields but perhaps there are lower cost plays available amidst all this oil & gas carnage.