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bignote

1,723 Posts.

02/01/16

15:24

Post #: 16715539
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Originally posted by bignote ↑

sasa, scott and all,

yes a blast from the past here.

I recall, I sort of suggested something similar, along the lines of BUR, about 2 years ago, when they were seemingly cash Flow positive (and when SHs looked guaranteed a return), so I think this may be a good idea, and so I cannot fail to be interested; however it does seem to good to be true.

For example, 1. who is going to manage the new entity, (LOL). 2. How come a previous loss per share is now becoming a cash positive payout, with cash everywhere to give away (almost)? 3. A $2.4 m positive free cash flow (year 1) does not seem possible to me, as only half the production is hedged at $51/bl. I calculate about half that total. ( they have always been a bit sloppy with numbers IMO, so we make a good pair)

Anyway, I am still looking and waiting for some superior numbers, and perhaps more clarification (perhaps even a flash of insight).

I would have liked a simpler solution, something I could understand straight away, but then I am not an expert. ( I don't know but i am starting to think more like the Sheriff in "No country for old men", sort of perplexed and out of his depth). Or as "Woody" did say of the hapless subject, beset on all sides by terrible dangers, " You just don't understand".

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Just in case you don,t know what I'm talking about: [MEDIA]

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