RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Debt/Production can be betterIf management was as good as mediocre, they wouldnt have made this stupid decision , effectively crippling revenues in the face of higher oil prices:
Subsequent to March 31, 2021, the Company entered into the following commodity derivative contracts: Crude Oil Collars January 1, 2023 - March 31, 2023 US$ WTI 1,100 $35.00 / $40.00/ $50.00 Amameal wrote: No, it is such a bad idea to dilute at the current price level. We have a market cap of 8 million. A mere 10% of debt will take away over 50% of equity from existing shareholders. It exactly is what lousy management will do.
The way to success is to continue to reduce the cost. Increase production as fast as possible and do a little more hedge when WTI price hit $85.
Anyway, at the wave of rising oil prices, mediocre management will do the job.