"That hedging activity is designed to provide increased certainty on pricing of the sales of approximately 80% (and must be between 70% to 90%) of the Company’s expected production from currently producing wells as they naturally decline over that period."
Kpkg,
re: "hedging current production"
You and I seem to disagree on what this means. My take is that 80% of the expected production of each of their current wells is hedged for 2 years. So that means 1000 BOE may be hedged in Jan, 900 in Feb, 820 in March, 750 in April, etc.
You seem to imply that they are hedging a constant number of barrels for 2 years. Ie if they where producing 1400 BOE, they are hedging 1120 BOE for 2 years. If that's what they told you, it seems contrary to what is written in the announcements.
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