buc, whether it's "delusive" ( very diplomatic ) or not, that is not my query. My query was/is to see how you have come to the constant conclusion that SSN is a "Buy", no matter how good or how bad things are. Even you must admit that the waters are very mirky right now ?? Or maybe you won't ?
Why is it always a buy ?
Back to the 500,000 EUR - Bluff,
Even if it was 2,000,000 EUR it has absolutely no bearing on how Tezza will navigate the SSN Enterprise through the obvious mirky waters with the odd iceberg breaking the surface.There may well be an iceberg that has not broken the surface though ? ( covenant's )
Your detailed formula of the immediate future I believe would make for fascinating reading buc. You have been telling one and all for 5 years, SSN is a buy yet I am yet to see your homework on why it's such a consistent buy ! If it was back up to the .23 cent level would it be a buy ? If it was down to .001 would it be a buy ? Even dr has it as a "hold"
SSN have some excellent acres in the Bakken and the old performers from the good old Real Estate sale day's are still producing to the expected decline curves ( or even better from memory ?? ) I sincerely believe the company has a good future but, that future is in danger in the immediate period. SSN are not the only 1 cent oiler struggling right now and in fact they stand with some pretty decent size oilers who are also feeling the pinch, cutting CAPEX because of the mirky waters ahead. Terry's margins are very tight so his ability to pay off debt or to invest in completions and new drilling is so limited it does have a tangible impact on the companies immediate future.
So it's not about what they could be producing in the next 2 - 20 year time frame buc,
it is about now, the POO and it's affect on the coy's bottom line, the Coy's ability to pay down debt, their ability to complete the current wells, their ability to put the drill bit back in the ground to keep pace with the decline curve, their ability to prevent the covenant's being triggered, POO going lower ? etc. Make no mistake buc, the decline curve is catching up while the coy sorts itself out. It was a big positive that their production jumped so much the other day but that needs to continue. ( and I sincerely hope it does ! )
So, if you have anything buc ? anything at all to sell this company as a "buy" other than C&P from Tezza's presentation and/or pom pom's being waved around I would love to see your work because, I know if the SP goes any lower ? you will still be telling people to buy !
How will TB get this ship safely through the ice berg's buc ?
