RE:RE:Thoughts on Cardium's companies Q3's.... Hopefully the OBE ship has sailed. Loading up on a sleazy level of salary, bonuses and options, refinancing the debt at 12% just so they could hit exit production numbers and pay the management just turns my stomach. I dont want anything to do with them.
WCP also has a huge presence in the Cardium I would even take their stock, but obe, no thanks. YGR would also be an interesting merger candidate. At least two cheap companies coming together... and it would solve YGR's decline rate issue in one transaction.
The deleveraging has been a boring grind but the balance sheet is now in decent shape at BNE. Going forward they have a lot of options to deploy the cash. 10 million a month in free cash on a 280 million market cap
The refinancing before the end of the month should clarify what and when BNE will do something with the cash flow going forward.