RE:RE:RE:PunjabiS&F you are so on innore. But before you go the guidence you talk about is an estimate at Dec. 2018. Current WCS is $32.27. I quote:
Note 2: The Company has budgeted a 25% increase in 2018 WCS differentials as compared to 2017, to account for the recent widening of near-term WCS differentials. Management anticipates that the WCS differential will narrow to historical levels in early 2018.
Additioanly; Your estimates are way off, better talk to someone at Surge and get yourself straight. DF powerman wrote: Punjabi, Thanks for the post on what the Canadian Oil and Gas prices currenly are. Some here think the estimates for drilling and calculating Nav are the actual price they get. Hope this opens their eys to reality. Surge is saying they have 36 million in free cash flow so that means they will be borrowong over $60 million more for drilling and such in their capital plan for 2018.
So the NCIB is proposing buying back around 11 million shares on what is basicly money they need to borrow. (Forget the money from the sale of property, They are still borowing money.)We are headed to be one of those highly debt laden O&G outfits that investors stay away from. No wonder the price keeps dropping. I am sure they will be buying shares at below current prices. Probably mine. Dam it. DF