RE:New investor presentation up... My takeaway from the investor presentation is that any degradation in oil prices from here leaves them very weak. At $50, they are negative free cash flow but surisingly even at $65 they only make $25 million free cash flow and their cash flow to debt is still over 3 times. It shows how badly they ran up the debt in the last couple of years.
At $65 oil they will be fine and if it stays at $65 they will eventually be prosperous again. But...every oil company is prosperous at $65 oil and most are already spinning much higher free cash flows as a percentage of market cap than this company.
i have exited my small position in BNE in favour of IPO which has FCF this year almost as high as BNE despite being less than half their size and about 22% of their debt levels.
Do your own due diligence and good luck to all.