RE:RE:The facts and only the facts - proof of Marino LiesA sustained downturn at sub $50 is one thing, at sub $45 is another. Looks like sub$40 is coming. There’s a limit to how much Capex he can cut, and he has payments to make.
He might have been overenthusiastic in his defense of the div, but the signs were there that the possibility of a cut was real, even based on what he said. The margin for error was disappearing.
Hedging has limits.
MikeD1969 wrote: lashing wrote: VET was created as an income stock. That was its purpose in life. Marino campained on that all the way to Enercom in Dallas which was Feb
11-12 2020. Marino took that stage and gave the same "we are fully funded" speech he gave on BNN Jan 21 2020
There is no excuse for the flip flop. VET ripped off every single investor they had.
There is no black swan. Thats a weak excuse that insults anyone with intelligence. Mid Feb to Early March is not a "sustained downturn". - Marino always used that term SUSTAINED DOWNTURN to be the only reason they would even consider cutting the dividend and even then they would
CUT CAPEX first.
good points lashing.... too bad people took Khersons and trevors advice on this one ....Regards