quarterly resultsFinancially, brillant results linked to a strong perf of nat gas price : + 36% for operating netback
> adj funds from operations + 70%
Seems out of the woods for debt risks : during the last six months cash and eq = + 42.6 against + 39.4 M, working capital = + 0.5 against - 10 M
Doesn't seem out of the woods for prod. Still problems at Jobo (compressors ?) and progress is very slow : nat gas and LNG prod = 162.6 after 158.3 Mcfpd
Adj net income is interesting. Net income after extra items = - 21.3.
Extra items (non cash deferred income tax expense, because COP - 8%) = 42.6
> adj net income - 21.3 + 42.6 = + 21.3 USD
Per share adj net income = + 0.62
x 4 = 2.48 USD
> PER around 1.3 !
I regret the sale of Arrow explo, but it seems is was necessary