Great job!-Woo hoo, they sold another $55 million worth of assets! That should cover executive bonuses for a few months!
-4,800 boe/d removed yet capex guidance is unchanged?
-The revised business strategy is a bunch of vague assurances to “save money and do better”.
-Now they’re talking about the long-term sustainability of the company? Does that mean their previous strategy was intended to maximize short term profitability? If so, why was it still making heavy losses and increasing debt? Makes no sense.
No wonder we’re getting killed again today!
Oil is at $65, like it has been trading for weeks now, but we are 20% lower.