Share Price Catalysts, page-1744

Rosencrantz you make valid points but I'm less inclined to make comparisons based on revenue rather than free cash flow.That's an interesting Pair Trading proposition but I don't have the stomach to short any North American energy names....if petroleum prices spike in the northern winter it is I think a risky proposition as the market floats all boats as they say.

I'm not anywhere near as confident as some others here with FCF for the reasons below.

I do not give much weight to the Auctus projection of cash, I actually don't believe them.They're fishing for retail seduced by cash. I suspect we'll see virtually all cash generated reinvested in a larger business based on top line revenue/production rates with investor returns via cash or buybacks being of distant secondary importance. That's not why we invested here. I really think managements aim is to bulk it up & sell it based on reserve expansion & production. They're dressing it up for future sale & there's nothing wrong with that....but if that's the case....spell it out. For that reason Calima's numbers may in 2 years time slot somewhere in the chart close to KEL but if so it will be a far larger producer than today but they'll be spending near all their cash generated to get there. That's a risky proposition if the oil cycle turns between now & then & why I'd like to offload & why some of the others in the chart look attractive right now but I won't at these prices. I could be wrong on everything, just being open with my thinking