RE:Things are looking up I trimmed my position by 1/2 after the ER this last week.. they made it clear in the MD&A that their costs are beginning to rise (they had to reinstate salaries they cut) meanwhile they aren't seeing any benefits of increased activity or pricing because producers are going to be focused on strengthening their Balance Sheet and sustainable growth.
their current banking agreement prevents them from doing any NCIB!! I was baffled that management entered into a credit facility that restricted them from doing so when they were positive net cash!!!
im still holding a position on the hopes that they get taken out by someone larger.. but not confident that will happen with the Change of Control provision.
GTLA