Post by
Valueseek1982 on Aug 06, 2015 10:42am
Something doesnt add up here...
Long time reader first time poster. With their increased capital program, 20 wells in with production of ~4000 boepd (declines seem way higher than typical), lower netbacks spurred on by the commodity market and a debt line that is not nearly large enough ($70mm in my recollection with probably $55 - $60 mm drawn) how do they expect to survive - this one looks like a ship that might not make it - just my humble opinion - just look at POU this morning along VII - probably has farther (a lot?) To fall
Comment by
huntergatherer1 on Aug 06, 2015 11:00am
The only thing that doesn't add up for me is how this is trading up on a shitty day in the markets and with their cfo leaving - hmmm??? Fishy!