Post by
themangokid on Aug 12, 2011 10:42pm
definately a strong Q
huge gains in funds from operations, net income + if you exclude the xtra div the company paid in january their payout ratio would have been 54%.
Production up 54% from the previous Q2. Sure production was down a touch from the previous quarter but alot of oil/gas companies wrestled with difficult environmental conditions the past three months (nae, day to name a few). The company expects to average 5000-5200 BOE/day for the rest of the year which is a 37% improvement over the previous Q3.
The only areas of concern for me, and they are not so major right now, is that alot of their higher hedged gas prices came off the books in 2010 and only 25% of production was hedged, for 2011, at above $5.75. Plus that and fortunes of small caps can change pretty quick, for the worse, in a crappy economic environment.
All in all. though, pretty happy with the report and future prospects of avf.
Comment by
jjeerryy on Aug 13, 2011 9:41am
Yes, a very strong Q. Someone recently posted AVF could be back up over $6 soon. Only fault I see with that is it may make its first run up over the $7.