@yanlin,
You may or may not recall; we have discussed SPO from opposite ends of the enthusiasm spectrum in the past.
Without wanted to come across as "I-told-you-so" (because I make many investing mistakes), but I have to say - having looked at this latest result - I am even less enthusiastic about SPO as an investment prospect at 77.5c as I was at a price level above $1.00.
I think the next step will be a suspension of the dividend, and an equity raising (in fact, had they moved to repair the balance sheet sooner, I am convinced the share price would be a lot higher than it is today).
