RE:RE:RE:RE:RE:Hedge DisclosuresI know it's with a counterparty. It's not a contract on NYMEX I am not that concerned about the credit rating or quality of the counterparty or the name.
It's the disclosure about the price and the volumes that is troubling. They are hedging "cargoes".
Someone did ask about the size of the cargoes on the conference call. It's about 1M bbl per cargoe. I got it.
These are forward hedges. IF you look at the disclosure in the August Financials on Sedar and the MD&A, for the quarter ending June 30, 2021, as the company has certified these financials (the CEo and the CFO), for the remainder of 2021, and the forward hedges for 2022, and then you look at the disclosure just filed for the 3rd quarter ending Sept. 30, 2021 for the remainder of 2021 and 2022, the conclusion has to be that something is seriously wrong with these disclosures. They are not right.
So then the question becomes why are the CEO and the CFO disclosing these hedge contracts that look like made up numbers!!