Well it looks great and I'll drink a beer and have a toast to management. Good job reducing the debt from 176M all the way down to 18M while keeping the production about the same. Looks like they will have some extra cash flow for some bolt on properties to increase the drilling inventories.
I know there are a lot of naysayers around here still backing the dissidents who will read this report as a terrible job, but at the end of the day all they were was a distraction anyway and management seems to be doing well without them.
Did not we just sell producing properties to raise cash to reduce debt and instill market confidence to bolter the share price? Why buy new production that will most likely be delutive to the share price? I would rather see a share buy back and or higher dividends. That would more likely return value to the sharehlders instead of paying for gambling on fining new oil
What worries me is that when we have the next board meeting to elect a new board there will not be enough of us doing what needs to be done to get a board and CEO that have the stockholders in mind. What are some thoughts of other people that own this stock?
There weren't many domestic natural gas producers that weren't in the green today on the storage report and stronger NG prices. The Q4 results must have leaked.
When you are trying to model forward revenues for EQU in 2013 and all Klapko will tell you is they will drill "up to 10 wells," what number would you choose for your model? Is it any wonder the price of the stock doesn't work higher?
I see your point on the use of "up to 10 wells." The math problem comes should they drill seven, for example. We'd have more confidence, I suppose, if Klapko would say for what strip price will he drill all 10 for what price he'll drill 9,8,etc.. He can't be so conservative and cautious that nobody buys into his upside case.
I thought the math wasn't that difficult. 7186boe/d ending 2012 less 16% decline rate = 6036 boe/d drill 10 wells and 2013 guidance is 7900 boe/d. 186boe/d for each new well? Some wells will produce more some less, but that is the guidance for 2013 posted in their presentation.
all those great accomplishments you speak of were the result of the dissidents pressing the management to act; without those shareholders oversight and persistence you wouldn't be collecting a dividend and holding a company with such a strong balance sheet. Thanks Nawar & Adam, shareholders stand by you.