Canacol Energy Ltd (Alberta) T.CNE

Gamba Factor Strikes Again

[oilwatcher13]

They have to issue a panic press release saying all their coupons are good and they are managing their debt???? The panic is the current market cap at the end of the day today is 154 million and the current level of debt is 724 million dollars... are they a going concern!

I would say yes, because the stock has no takers given the wealth destruction of the GAMBA CLOWN SHOW over the last decade. 

It is amazing that the BOD has not taken GAMBA out of play, but that would require the BOD to do their jobs. Hasn't happened so far, but the class actions are coming!!!

JMHO

[mjh9413]

I'm out of my depth with their financials. YTD they incrreased borrowing (which they have done in many quarterly periods) by over $100MM but net capex was $41MM and there is no explanation of the $104MM in additions to PP&E and what are those deferred tax assets appearing in the BS, which increased by $60MM and for whcih there are no notes.  As to Ebitdax it has a large quotient of