I was hoping for a slight cash flow positive quarter, but it seems they paid for some upfront costs for SE while they waited for the financing to be finalised. It’s another solid ‘consolidation’ quarter, but if they are trying to make the company look as boring as possible, they sure are succeeding. Reading this report you wouldn’t think STX own some of the best acreage in a hot sector, with significant reserves upside from ED, not to mention Ocean Hill and Arrington-Kadatinni etc. The sooner they get a proper CEO who lives and breathes the company like SN did, the better.
STX Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
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