Yep Carey18.
Market unimpressed with waiting.
Sold it down 5%
Brokers know its worth 40c plus .... but unless they can get it sold down, they can't buy back cheaper to make their money. Vulnerable to short sales now given how unexciting today's preso was.
Spending that $40M on the Compression station will drain the cash reserves. Going into Net Debt is a risky play, even ID said that himself. Horse and Cart stuff. Also not enough clarity around the 4TJ versue 2TJ disparity. Saying wells currently performing above the P50 curve .... sounds nice .... but maybe Brokers want to see the revenue flowing. ITs so hard to forecasts when ID wont tell us the flow rates nor the margin. Left in the Dark, Left with no other real option other than to sell. Wait and see my Magic trick .. just doesn't cut it anymore ID.
SXY Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
