The. Last time the stock traded at this price Debt was roughly twice as high
production was 2000 + boe/d lower
The company did not yet own 50 sections of Montney land, an oil tank battery, pipeline to gas processing and a SW disposal well and completed a successful discovery well.
they had not acquired 115 sections of charlie lake land Plus tank battery. And de risked with 4 wells.
Not to mention the better, far more flexible capital structure
But still no further dilution!