Post by
MyHoneyPot on Jan 05, 2021 9:13pm
Useless Management 750 million spent on Pipestone
Management spends 750 million on pipestone, dilutes and destroys their existing share holder based, and now when oil prices are increasing they will put all their extra cash flow into playing of debt. Management is bad and do not know how to run a company.
My guess is that pipestone was a bad bad bad deal, and management will not release any numbers because they feel like the share holders here are dumb or something.
Time for new management, and if pipestone is the property they suggest and they have 750 million sunk into it should they not be ramping up production, rather then chasing down bank debt.
Bad management, dumb dumb dumb.
IMHO
Comment by
kingshane on Jan 06, 2021 1:12pm
Debt first then ramp up production with free cash flow. Only thing holding this thing down. $60 oil and market will reward. A few hundred million of debt and then ramp up production. $2-3 bucks again!
Comment by
MyHoneyPot on Jan 06, 2021 2:06pm
spend 750 million on an asset that you can't develop, because you didn't plan and yoru flat broke, wait until your debt is paid down, or unless oil goes to 100 dollars. Very strategic plan. IMHO
Comment by
kingshane on Jan 06, 2021 4:21pm
There is no doubt oil will be $100 again. Even $200 when inflation kicks in and the fall of the mighty US dollar. NVA will still be around then if their not Aquired before hand of course and it will pay off big time. They just bought to high that's all but eventually it will be considered a good deal again.