RE:Patience Patience?
From their latest MD&A:
Realized price /BOE: $69.82
Royalties ($8.02)
OP cost ($27.96)
Operating netback $33.84
G&A / BOE ($21) !!
About $13/BOE left.
50 BOE/D * $13 = $650 / Day
They have $ 1, 404, 989 in accounts payables.
It will take 2162 days (6 YEARS!) to pay off existing payables at todays pices and production.
Add on top of that $1.8 million of decommising liabilities.
JV? THey have no money. Perhaps a 100% farmout?