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NORTHERN BLIZZARD RESOURCES INC T.NBZ

"Northern Blizzard Resources Inc is engaged in the exploration, acquisition, development and production of petroleum and natural gas reserves in western Canada."


TSX:NBZ - Post by User

Post by TonyDjon Dec 06, 2016 12:18am
232 Views
Post# 25558412

2017 Looking Good.Over $50 WTI Sweet Spot for NBZ.

2017 Looking Good.Over $50 WTI Sweet Spot for NBZ.We have 100 million cash less the 75 million for the Share Buyback plan gives us $25 million leftover. The other asset sale is interesting as the news release mentioned $30 million.If this is executed. Then we are going into 2017 year with still over $50 million cash.Also, the big thing will be that the dilution will stop as there will be no Stock dividend plan and a cut of the dividend to a more realistic 0.02 cents per share around the 6-7% yield.Decent Hedges are also in place at $50 WTI and no debt to worry about until Jan 2022.This Share Buyback should put a floor on NBZ share price until we get into the stronger months from Jan- March.Also if we can hold the over $50 WTI in the near term and possibly get to $55 by mid 2017.
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