Bought some more this AM
It is too gassy for me but, if there is one company that I am confident can stay alive it is this one.
They have $734 million in net debt, yet they have a credit line of $2.1 billion. Net debt/FFO is 1.0 time. Net debt to boe/d produced is $5,300. Net margins are above 50%. Very few, if any, can claim such strong financial position.
It is also really cheap at $20,000 per flowing and EV/DACF of 3.5 times. Yield is now again over 10% and company will slowdown capex instead of cutting it next year.
Of course, the stock market will do its own thing and may keep trashing this along with many good Canadian energy stocks along the way due to recession fears and what not so impossible to pick the bottom. However, the risk/reward on this one look pretty darn good!