VH has been proven completely correct on this. Take a bow. It’s bitten a lot of people, myself included. Though I assume it’s a little bitter sweet being correct as I assume VH your experience comes from also having a few scars.
At a MC of $14M presently essentially has no value attributed to the
The big question is not how much we have to pay back, and can we generate that in 6 months? I suspect the answer is no. Ramas May want to step in but only to protect their funds from WF from closing the door. But will we generate enough from the drilled and completed wells to claw millions back - I don’t think so.
Surely alarm bells would have been ringing on the first lot of completion when frac volume and pressure was not right. Was management asleep at the wheel and just hoping?
I would love to buy at these prices to lower my price but it will only be in hope. My head says no chance. It’s only a matter of time before we close the door IMO. After all we are letting acherage go to reduce cost but it means we are not drilling it so we work with what we have got which is half the wells producing bugger all, three wells to be completed and the already producing wells in decay.
I can only hold in hope.
I was a holder since MAD and this management has overseen a complete misuse of funds. I can not see how people in the know continued unchecked.
FDM Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
