Short Term Trading Week Starting: 4 Jun, page-143

FPL

Looks like they've turned this baby around after a change of strategy to simply pump what they have to generate large CF positive position to then fund the 'wildcat' or 'explosive' wells.

SOI - 677m
Cash - c. $1m (note 500k was received on 3-Apr - i.e. after March Quarterly)
EV - 4m

View attachment 1132381

4m EV & production has been as follows since the change in strategy...

March - 2,002 barrels
April - 3,336 barrels (up 40%)
May - 3,811 barrels (up 14%)

Just like in the April report when they alluded to May being higher than April, they do the same again in today's report "June's production is likely to increase again based on likely gains from this field work in Colorado & Kentucky"

Market will now begin to reward them for honouring their commitments & for demonstrating a nice consistent increase in production, revenue & hence profitability.

Cash Flow positive is king & this has now been sustained (& increased this month) for 2 months with guidance for CF positive for next month at an even higher rate.