RE:RE:gte Those two hedges are over in two months so in June they can re-hedge those 18 K bpd at close to $70, most likely,.. that is almost double. plus having extra 12 K bpd sold for maket value is oil goes to 80 helps too. Q1 and Q3 will be huge difference.
In february we had a run from 80 cents to 1.4 and the situations was much better nowdays.,so this has some dry poweder The only thing is 200 Millions needed for year 2022, but that should be easy..
$65 for 30 K bpd brings about 700 Millions per year in total,. 300 million in market cap for this is too low.
morsel wrote: In the midst of the crude collapse last spring, I'm sure GTE's bankers required them to secure some guaranteed income no matter what price. Despite bad hedges, I'm interested to see if they continue to cut losses and generate a positive balance sheet in Q1. They have to do that before they become "very explosive".
Usually, the price rises coming into the Q news. Not this time. If the news is good tomorrow, perhaps a nice short squeeze is in order. We have seen that a couple of times recently.