RE:RE:The Best Defense is a Good Offense Yeah that pickle is what makes them vulnerable and cheap. Cheaper everyday it seems.
50% cheaper today alone...share price wise.
I looked at the Q3 report too and noticed YOY decreased debt and expenses.
I also noticed that longterm debt is just over $500k and net debt is $55 M
Could the net debt have something to due with the shut in inventory?
On second look it might not be as expensive and unprofitable as it seems.
GLTY and all
scienceguy36 wrote: Quick look at RZE 3rd quarter report shows they are in quite a pickle.
Production of 3,787 boe\d with an operating netback of just $11.99.
Debt aprox 55 million and ongoing dispute with gas operator shutting in approximately 1,110 boepd, including 626 bblpd of light oil and 387 bblpd of natural gas liquids since that report.
As a comparison GXE 3 quarter report show production 5,511 with operating netback of $45.08
Debt aprox 14 million and increased production in Dec to 6,338
My personal opinion is that no company will make an offer for RZE by taking on that much debt and it will declare bankruptcy within the year.