RE:RE:RE:RE:RE:RE:RE:Here's what I read:Cheadle, I agree completely that investors are never quite sure what is going on in the minds of Crew's management and they don't appear to have a clear path to success that they are willing to share with us. I am sure there have been a number of missteps along the way that have caused Crew to fall out of favour with the investment community, but they still have a heartbeat and a 3 year life line until they are in a situation like Kelt, Pony, Jupiter and Modern to name a few.
The facility deal saved them in 2020 as they continued to lose money quarter after quarter and that can only go on for so long. But you can't ignore the fact that they have a pretty nice asset base that would compliment CNRL, Arc and Shell's holdings on the Montney trend to name a few.
I think most of here are waiting to see if Crew decides to refinance and develop their assets, put themselves up for sale, merge with another party or be taken out by an unsolicited offer. This 13 well drilling/completion program to ramp up production maybe a way of highlighting the potential of their assets by moving them towards 30,000 Boe/day. I believe 30,000 Boe/day would be of more interest to prospective buyers, should they decide to sell.
Some would argue that they should have used the facility funds to reduce debt and simply execute the 5 drills + 1 DUC well program to maintain production of 20,000 Boe/day. I for one, believed that they were going to use those funds to reduce debt.
As for taking some money off the table, if I gave you any advice on that move please do the exact opposite of what I say. That will guarantee you a win!