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Ann: Rising oil prices - Hedging Update, page-46

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BerserkWarrior

1,325 Posts.

749

02/10/23

20:30

Post #: 70136477
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Originally posted by Lithos: ↑

I have gotten into the oil & gas sector in Alberta, and in worked in Calgary no less, been there for years and know the players well. I can tell you if this company had US trained managers, as many do in Calgary, it would be a 50c stock in my opinion. It is not hate towards management, it is: lack of process, lack of meeting forecasts, lack of road-shows prior to an asset sale, lack of updates on hedging policy & book, lack of look-forward process more generally. When the jewel in the crown was let go in a fire-sale, which advisor were utilised? (leading resource bank in Alberta??)....against a backdrop of an oil price heading into the US$90s/bbl (at the time).

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Well said. Not sure of a 50c(?) valuation based on Canadian micro oilers but certainly 23-26c for Blackspur on comps

CE1 Price at posting: 9.3¢ Sentiment: None Disclosure: Held
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