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Zargon Oil & Gas Ltd ZARFF

Energy Oil & Gas E&P
Zargon Oil & Gas Ltd is a producer of oil and gas. It is engaged in the exploration, development, and production of oil and natural gas in Canada and the United States. The company works on three phases of oil reservoir exploitation which include Primary recovery, Waterflood recovery, and Tertiary recovery. Its portfolio includes Alberta plains north, Alberta plains south and Williston basin projects.


GREY:ZARFF - Post by User

Zargon Oil & Gas Ltd > massive Debbie volume today
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Comment by pablo87on Jul 07, 2018 8:55am
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Post# 28282221

RE:RE:massive Debbie volume today

RE:RE:massive Debbie volume todayI sold my shares, kept the Debbies. Became alarmed at how little cash they had left. Also, if you read my posts you will know that I pointed out the reserves were not being replaced and were being used to pay Debbie's and SG&a. Well as it turns out, production is declining too (CDN conventional down 200 bopd in 2 years) while costs remain the same. It makes sense - they've no real a&r budget so they keep plumbing wells I imagine the cost is similar regardless of what a well produces.  This production drop equates to $3.6M of cash flow per year but as I said, costs remain the same.

They are essentially betting on higher oil while the asset value is declining at a given WTI/WCS....
Recent transactions (Altura) doesn't bode well for valuations either.

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