Trying to find the pony among all this sheet (sounds better with a Texas twang).
IMO, the leadership of this company deserves a new name ... now now lets not get carried away ... how about "Gunna" (no to be confused with Gunner). Gunna Barr, GB, has a ring to it.
Why does seemingly every release read like "we are going to do this and we are going to do that" ... how about actually doing the right things at the right time.
So GB, you expect a term loan from MOB and are gunna repay OAS this week. The credit facility is gunna remain substantially unchanged but for the increase in interest rate to US Prime is ~3.75% (LIBOR 1.75%) plus 1%. Gee last time someone doubled the interest rate applicable would not seem substantially the same. Ahh what does it matter we are gunna repay it in October (somehow). I get the sneaking feeling that Option #1 wont be sitting at the table.
Did you know we have are gunna have a water problem. Conveniently buried in the guise of "good news" we will apply for waterflood to raise reservoir pressure to reduce the cost of water disposal. GB did you not due proper due diligence. High water production from these formations is well known.
Gunna fix the well design's in the name of capital efficiency. Good idea ... but didn't you already do that GB? PUD almost immaterial if you can't get access to capital to develop it.
Gunna fix the pump as well and get infill drilling started.
Gunna hold the stock until you come out here and do investor presentation so we can ask those hard questions FTF (no swearing remember).
What a frustrating stock this is.
SSN Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
