Im just not blind enough to believe the bulls who probably got in at 0.003 who are happy for the muppets to lose money whilst they post garbage overly optimistic DD to ensure 'you and the other clueless holders' keep buying to keep their margain.
this company is going no where as the cost of future wells and paying the garbage management is essentally canceling out any 'reasonable' sharehold returns.
here is the proper DD not the rubbish the bulls post.
every Well they drill the intrinsic value of the land reduces due to there being less Oil in the ground but the current capX spending makes this not very profitable for shareholders as management pay themselves massive salaries and have give them selves generous stock bonuses.
Now here is the killer if the Land was worth 300m post jewell it is probably worth 250m now and after the next 2 wells it would be 200m etc
the company has ruled out BB and dividends which means they are treading water to keep operations going and there is no returns to holders in the next 12- 24mo and probably 36mo from my personal DD outside of swing trading the SP
the only investment case for BRK is if they Sell up but unless they get a big offer which they won't it makes no sense for management to sell as they are making bank paying themselves on Oil sales via Wells shareholders have paid for...
i dont trust DP to look after holders He has a history of failure and throwing them under the bus. Even with his holding of 110m shares he is better of letting this garbage fire run its course. In the macro environment he has managed to create no value but is still paying himself....
If you can buy at .003-.005 its prob worth the risk otherwise I'll keep on the sidelines and laugh at the blind leading the blind
That is unbiased DD and 100% the outlook for Shareholderd
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