RE:Better than expected results from my perspective I agree. The report is better than expected and people were expecting a disaster. Considering that the oil market is in shambles, this report proves that the management is competent to weather the storm. For the past 5 years, I have been hearing that Baytex is goin bankrupt. Obviously that will not happen. As for price tomorrow, I don't expect much of a move. At least by looking at the after hours reaction. All the best.
tazzz222 wrote: Repaid debt of $57m and positive cashflow of $6m during April-June quarter. They probably didn't have a choice on the debt reductions (regular monthly payments), but the positive cashflow is a surprise to me.
I know it is difficult with the impairments etc. and accounting jargon in looking at the net income (and net income does look bad), but a lot of the items included on the income statement do not impact cash (impairmentsin assets or depreciation for example). This is why I like to look at cashflows because it shows was is happening in the bank account.
Tomorrow will be interesting.