RE:August update....Disappointing, but not surprising.
- August had a double dividend so aproximately $5.2M as opposed to $2.6M cash outlay.
- Not sure how many, if any, shares were repurchased, but that would also decrease cash on hand.
- Production was back up, but still less than June. 3rd month in a row with capital expenditure over $6M so hopefully the trend continues.
End of the day Gear doesn't have the best assets so it is more torqued to WCI and Canadian differentials. September will be more challanging than August. November'ish WCI and differentials should improve, I'll enjoy the dividend until then.