Ann: Addendum to Bird 13-18 announcements of 9 and 11 Oct 2017, page-44

Orion
Define profitable . If it means they are making 5 dollars a barrel as OPEX is 25 then they can say it's profitable but it doesn't include the need to recover the 400k USD spend plus the approx 500k in quarerly corporate costs. If the well produces a 5 dollar margin at an Annual production rate of 185k ( 50 bbls per day ) that only pays for less than half the cost to drill. Even at your 10 dollar assumption that still doesn't cover cost of well . That means the company will need to continue to raise funds to drill and pay salaries . This company has issued billions of shares over the last few years for this exact reason . But if shareholders are willing to fund management " exploring " and getting paid handsomely along the way , why on earth would they stop ? These guys have paid themselves great salaries but importantly there is about 100k average in assocatied entity payments every quarter .
As I said, for those that know and still invest, I wish them the best , just trying to help out the newbies who may actually believe the spin of the announcements