Took a beating for a reason.Transparency. <br /> <br /> They told us that they got the deal of the century buying a 25,000 bd asset for free.<br /> <br /> $33M cash flow per month, assuming Kris Energy credits.<br /> <br /> What they did not told us was these assets had a minus $200M in proved NPV10. Which means that gains will only come through development.<br /> <br /> They did not told us that reorganisation would only allowed Kris energy credits in 9 months, which are also a lot less that I though.<br /> <br /> Bottom line, at 50% taxes on profits, and a capex program of $200M , there will be not much cash flow coming in untill 2024, when they may have that cash in which would only pretty much cover the negattive value of prooven producing assets.<br /> <br /> Public relations did a lousy job, I still believe Valeura assets are worth more than current value, but tell us about well costs, decline rate, projected free cash flow, etc. They need to be transparent, they are a junior now.<br /> <br /> <br />