I am going to sign out for a while as the trolls are pretty aggravating, blind and willfully ignorant with no actual knowledge. I mean they can read and repeat a few bits and pieces that we all know already.
Appreciate if short sellers get the price to 40c I will top up, still have a little in the tank.
This year cashflows are only 33m but next year looks better. The U.S. oil rig count looks to have bottomed out finally, so there will be a gradual recovery.
The Ecuadorean operation has already been written off so costs will reduce as they wind it down.
20m of costs per annum have already been taken out, shareholders will be watching revenues. Restructuring costs are presently high and will reduce.
There's 85m of debt I expect at least 50m of cashflows next year. There are a lot of moving parts though.
I think my estimate is conservative, other large institutional holders are reportedly more confident.
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