RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Why is this moving so fast?The netback was this last Q3 negative because all the workover expenses have to be put in the operating costs - so negative for the netbacks - at the moment of billing.
Add to this that the production was low because of many workovers and that's why it was negative.
See the MD&A page 3 and you see that the costs - with the workover expenses and lower oil production because of the workovers - was still lower than in 2019 same 3 quarters.
The costs over the 9 months is below 40 CAD while it is higher because of the workovers expenses and low production. So actual cost should be way lower when workovers are done!
The loan is fine. As this was made with bad oil prices and is unsecured. It is convertable to shares, something you won't do - instead of securing - if you trust the company outlook. Quote from the financial statement: The loans are convertible at the option of the lenders on similar terms of future private placements
The provision for future abandonments is for wells with a 14 years estimated life, so it is far into the future. They have to do this for accounting laws.
Management has contact info on the website, so you can contact them.