RE:RE:RE:RE:RE:RE:Kavern23
Production is a problem. 10.25k average over H1 when the guidance was 12k average over the year to me means they are behind. The problem with YGR is decline and the high capex to sustain operations. If they cannot get production up to 14 to 15k then they need really high wti and aeco to cover capital. With the insanely high WTI and aeco for Q2 to only FCF 23 million shows with only 10k production they are far from a cash machine. If they were at 14-15k production instead that FCF would have doubled which is where they need to be. Last year they suggested 50 million to maintain 10k and they spent 90 million and ended at 9k... until they prove they can hit production rates they will not fly.. a good Q3 may change things and then it should rerate quickly from there.. already 1/3 through the quarter..