Who is listening the the Market at ARX? It is utterly dismal that the market in telling ARX management they don't find their story compelling or something they want to invest in, while at the same time people are selling this ARX shares at a significant discount to what the Analysts are projects?
The last five analysts that have provided updated guidance on ARX have a average target price of 15 dollars a share with the highest being 17.50 and the lowest being 13 dollars.
So did Arx or didn't Arx sell their Cardium assets, how long will this be disclosed for, if people are posting and chatting about this on this board, does management not have a moral and ethical responsiblity to press release this sale? How will that impact next quaters production, will they replace the production shortfall?
The management 2% plan;
- Pay down 2% debt
- Reduce declines 2% at Kakwa and restrain production (40,000 boe/day stranded)
- Paying share holders at 2% dividend
Is not really a plan, and everyone of these initiatives should be abandoned in todays price enviroment.
Seize the Moment In fact with these kinds of prices $4 dollar AECO, 90 dollar condensate/oil the lack of communication from management is dismal, maybe they should press release they drilled 7/10 of the top montney wells?
Attachie Abyass I could see management buying Crew, but that would be utterly stupid and just allow them to pursue a project robbing share holders of returns and making Attachie a bigger money pit then it already will become.
I don't put a lot of faith in the management of ARX but the board of directors should be getting on their case, the share holders should be all over management because they have not put forth a compelling story for investors to invest in.
Time to replace the President and the CFO.
Then we may be able to get a proper finicial report and presentation with real numbers and meaningful information.
IMHO