What a disaster!
A good company poorly managed for a number of years in market condition where many other made big profits. The housing market has turned down in the market where DVN operate QLD and SA will see poor demand and many projects will be sold off at breakeven or losses.
The only way for DVN to survive is to be privatised take out the cost of an expensive management structure and directors. The majority shareholder either needs to buy out the minorities or accept an offer from an independent buyer.
DVN Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
