This may assist James.. Earnings of $9.6m in Q1 - id expect a bit higher in Q2 given WCS is higher in Q2 than Q1 FCF of $7.5m (not earnings) anticipated in Q2... beating forecast of $6.6m but no one mentions that. And yes, correct - CAPEX of $25m - $40m (not $15m-$25m as i noted earlier), leaving FCF of $5m-$15m for 2023 based on current oil prices. If you think oil will go up, FCF will increase materially.
So $5m-$15m FCF at current oil prices + Montney + upside as i believe WTI at the bottom of cycle.
(20min delay)