RE: Thinking of re-opening short soon / $1BN debt pile isn't going away22 Oct 2019 09:57
Wigwammer, I was most certainly here from 100p. I made the short case all the way down to the low/mid teens. As I say, go through all the recent drivel and you will find those posts!
NOG have an enterprise value over $1.1BN and the production trend is firmly down. You seen where production was only a number of years back - it was closer to 50,000bopd! The sales volume is now below 30,000bopd and they are having no major success with the drill bit. Cash from operations is going into capex but that's not dealing with the debt load. I repeat, how are they going to find over $1bn in cash when the financial model won't facilitate it.
RE: Thinking of re-opening short soon / $1BN debt pile isn't going away22 Oct 2019 09:24
It's funny isn't it.
I was here at 100p, opened the short and there wasn't an argument or come back from anyone. Please don't tell me there's an argument now when the fundamentals haven't improved in the slightest! In fact they are worse as oil is now lower !!
Earlybird - we may not often agree but on this one we seemingly do. FXPO is now trading below it's net asset value, has a profit multiple for 2019 that is less than 2 and if you include it's special dividend payouts (next one is expected in December) it's on about a 11% yield. I challenge anyone to find a cheaper miner in the market. With an asset life that goes for decades, this presents an epic upside story. Welcome aboard.