RE:Hedging losses
Yes JD, it does mean a company is losing money, period. They are leaving millions of dollars for the traders that booked their hedges. What does this mean? It means the FCF should have been much greater, more money for buy backs, more money towards debt. Don't talk about shoes compared to oil prices. All that I'm saying is the street knows this and it's a big reason why we're not in the $8.00 range. You guys can't take any criticism as if your actually insiders and the facts remain. Why is it that so many other energy companies have no hedging? Look at CVE, they took a massive hit to get rid of their hedges and Baytex management has dropped the ball knowing that we're in a supply crunch. It's okay to to own a stock and critisize their mistakes, doesn't mean I hate them, it means that I want them to acknowledge their miscalculations and correct them, that's all. If everyone only posts rosey comments about Baytex then why would they ever change their strategy? Without dialogue we're nothing, so all I'm asking management is, pick up your socks or we will replace you because this oil situation will not last forever and the window could close without warning.