OTCPK:BLKPF - Post by User
Post by
pablo87on Aug 03, 2018 3:07pm
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Post# 28412048
Correction: Hedge loss was $20 per barrel in Q2
Correction: Hedge loss was $20 per barrel in Q2$20MM. $50MM in the last year. They borrow $125MM and agree to take a $50MM hedge loss as part of the loan agreement. Doesn’t help stabilize revenue because they are paid on WCS but hedged on WTI. How dumb can you get? This is the problem in the patch - too many public companies resulting in management above their pay grade.
They generated no cash in Q2 despite minimal capex, higher production and $11 more per BOE price wise. Yet they supposedly have these great assets. So either they don’t have great assets ( in which case mgmt is full of it) or they have poor mgmt.
I’m sorry but the CEO and the CFO need to be replaced.