RE:RE:ShortsI still figure 15 Bucks a share minimum come spring with these commodity prices.
$25 / share if they sell a chunk of their assets or the whole thing. - They do have $1b in capital loss tax pools that will be useful in that scenario. That's on top of their $1.2 B in operating loss tax pools.
Hopefully the Q3 results will show 16,000 - 20,000 bbls/day of oil, condensate and NGLs.
At $100 cdn average that works out to about $2,000,000 /day for thier liquids over winter.
Add in another $2,000,000 for their unhedged gas (350 mmcf * $6 /cdn mcf) and you get $4M CDN /day revenue now.
Little wonder they can buy now back shares, pay down debt and re-consider more capex)
For good seasonal weather updates check out Joe B@stardi over at Weatherbell.com. He has a free
weekly (Saturday) summary of upcoming weather patterns.