RE:RE:WHAT IS THE ASSESSMENT OF SGY.? AND THE SOLUTIONS .? At $70 oil they will be fine but it will take at least couple of years. Because they can now barely keep up with decline, they need to increase capex to get the revenue to afford future capex and pay off debt. If they would sell themselves to a less leveraged company, they would get out of this hole a lot faster.
According to Eric Nuttall, last year SGY was told to sell themselves by their bank, which was posted on CEDAR. Then BDC stepped in and saved them with a big loan.
SGY had to sell a lot of shares at 0.60 just to afford capex. Now the shares are stuck at that 0.60 wall. It will take a while to recover and get back over $1.00 where it should be.
I'm still hanging in with my shares. SGY does have a lot more upside than a lot of other O&G shares that have already recovered and are paying / increasing dividends.