I am not here to teach Trapped - he is unteachable.
I expect to see ARX get taken out, because the things that are broken reside in management and they can all be replaced.
46% Utilization
In a play area like Kakwa where you are producing 180,000 boe day and you have historically produced 240,000 boe a day in a much higher cost enviroment. Whats holding them back it may that they have only decrease well costs 16%, i believe their original targes was much less.
Hedges
Is it not amazing they hedged the entire hedge deck at one time, when the prices were at the lowest point in the commodity cycle. Now they are afraid to hedge because they made such a mess of it.
Attachie
Attachie is really full cycle, future project with zero dates attributed to the project, zero predictability, and zero confidence a first nations agreement will be had and that the resultant project will have a good operational enviroment with the new regulations, or the impact fiscally on the project because of the new regulations, bad bad bad.
Sunrise
I know we are all asleep waiting for the sun to rise on sunrise, it a net zero science experiment with share holder money.
We reall need a management team that is building returns for shareholders, it like a goverment operation at ARX and the accounting group wants to be in charge of everything.
All these thing are fixable and ARX is trading at a tremendous discount, boot out management and you would likely see $10 dollars a share appreciation.
IMHO