RE:RE:RE:RE:Earnings
Last time I spoke to Jim earlier in Q1 he said that their plan was to add 500bopd per day to get them up to the 12,000 exit. it looks like they achieved that if you discount the month that 1500 was offline. They have no spring break up as they drill off the pad so they will be drilling all year round. It def looks achievable. Such a low cost producer with all of the infrastructure they snapped up at low prices in 2020. They beat the street on per share at 46c - consensus was 42c. Would have broken 50c if they didn't have that production offline. $2 per share for a stock trading at $2.70. Very undervalued. My guess is some people will be disappointed with the miss on production but when they look at all the other bullish info in there and account for this was a one off - we will go higher. They said in their Q4 report that they will implement a dividend when they reach 1:1 or lower on a quarter. They would have achieved that this Q if not for the production offline for a month. I think they will be there by summer. No banks holding them back with their low ARO so unlike most companies with debt they are the masters of their own destiny