Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Renaissance Oil Corp. RNSFF

Renaissance Oil Corp is engaged in the acquisition, development, and production of oil and natural gas in Mexico. The group's properties include Mundo Nuevo, Topen, Malva, and Ponton.


GREY:RNSFF - Post by User

Post by Boots333on Oct 30, 2019 10:08pm
199 Views
Post# 30289715

More of Pemex Creativity

More of Pemex Creativity

How does Pemex manage to reduce its debt obligations by U.S.$ 5.0 Billion in the 3rd quarter while losing U.S.$ 4.6 billion in the 3rd quarter and after having lost U.S.$ 2.7 Billion in Q2. and about U.S. $ 1.86 Billion in Q1?  Lose U. S. $ 9.14 Billion and pay down U.S.5.0 Billion in debt!!! 

 

Where did it get the money to pay down the debt? Production is up a tiny bit if you believe Pemex production numbers ( and I don’t), but expenses are growing, there has been no reduction in staff or operating expenses. Virtually all of the development drilling costs on its 20 new fields is being carried by the drilling companies, which is increasing Pemex payables every day. 

 

https://www.reuters.com/article/pemex-debt/pemex-financial-debt-falls-to-102-bln-mexican-finance-minister-idUSL2N26O1O9

 

https://www.spglobal.com/platts/en/market-insights/latest-news/oil/102819-pemex-reports-first-quarterly-production-gain-in-14-years

 

Maybe we need to get their accountants in to run some of our finances.

 

The worse that Pemex does, the better it is for ROE and other outside companies. 

 
<< Previous
Bullboard Posts
Next >>