$37.6 million FFF in Q4 Net debt of $267 million was $5 million less than stated December guidance of $272 million.
Q1 and Q2 should be even better, hedges dramitcally fall off in Q4. Strip is holding steady above $100.
It appears that not just the BDC debt, but also the bank debt, prevents the company from paying dividends. Debt really isn't a concern with the expected price of oil for the next 2-3 years - cost of production and reserves are what's important and of course a shareholder friendly float.
I will continue to average up on my $5.00 shares.