RE:RE:RE:RE:Crew's Heavy Oil asset - $60 USD WCS.I appreciate the respectful comment.
But I think you misunderstood me. What I'm suggesting is that Crew now have more 'options'. The risk profile has gone down already as they 'could' issue shares to pay off debt.. (a la cardinal energy and some others)..
This is NOT my preferred option, to me, the heavy oil asset has to go. It's offputting to would be buyers and Crew does need to still fix the balance sheet.
From experience (a lot), I can say that if you don't fix the balance sheet when times are good (or get better), any price upset and it can mean BK.
Ask BXE, BNP, CNQ, PONY and very nearly Kelt. Believe it or not, even Kelt was in trouble.. illiquid, hence why they had to sell Inga for what they did, when they did.
To me, Crew needs to get debt down to $250M. That's the right number for the company regardles of prices / cash flow... how they choose to do that, that's up to them, I can only suggest options.
Burgersandfries wrote: So far crew Mgmt has not done what a lot on this this board want which appears to be a good move. cheadle with all do respect you've wanted an asset sale since the share price was a buck good thing they didn't do that now a share issue? No way not a fan of that. Now if the market gets crazy and a big fish wants a position at $2.50 ok maybe :). The closer we get to gas going to kitimat the better off crew is. If these gas prices hold in until then all bets are off on crews price. I like the price 10 years ago in July I would be happy with that. Dare to dream!