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US Energy Corp. Message Board

  • rufus_jones_the_3rd rufus_jones_the_3rd Mar 18, 2013 4:38 PM Flag

    From the CC, I would never have guessed that

    U S Energy has recorded a net loss for each of the last 5 years. How are these guys still employed ?

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    • To be fair all e and p firms in development phase are loosing money in part because of depreciation. The problem is more about the lack of growth in production - it doesn't work in the end if their efforts do not lead to steady increases in production and revenues. The goal is to get to a place where drilling costs and all other expenses are covered by their cash flow. Then there is extra money to reward shareholders whether by buying in shares or paying a do end or doing an acquisition to further fuel growth. But last year they spent a lot of money and production "grew" from 1200 bopd to 1200 bopd.

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