Not that great
Production down 3.8%
Cash is $17.3.
But $11.5 million of that came from fire sale of Montney – robbing Peter to pay Paul/management.
And now $7.5 million has been returned.
They are finally coming clean about how costs are too high. The question is: can they actually meet their opex reduction goals?
I'd also take their production forecasts with a grain of salt.
No wonder they pulled the plug on Montney.
Will say it again, the upside has been sold off to provide stable cashflows to pay management.
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