Bignote, I agree with your point regarding a rethink on USA oil stocks. Hopefully it will translate into a competitive environment in the USA to aid sale of RFE assets.
With respect to Guggenheim situation, I glean from the Annual Report that covenants addressing leverage ratio and interest coverage ratio might be the problem. With no drilling and declining oil flow and declining developed reserves, I can't see these metrics improving. Something needs to happen soon to improve balance sheet (asset sale) or provide shareholders with a better path forward (scrip bid maybe).
On my calculations, the oil and gas breakdowns are estimates based on company released info of oil ratio.
Cheers, Knackered
RFE Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held