AND I like this.22 Oct 2014 09:39
Says it all really, Brad started off the year well with over a million CD$ per month into the Bank with better banking facilities, extra oil production, easing off the 'chokes' when suitable, and a planned drilling and acquisition programme. AND don't forget the proven oil resources.
We are beginning to get a little jumpy because Brad has not posted a RNS for a while but after sending my email to 'HQ' yesterday I reflected on my actions and came to the decision that I may have acted too quickly. I have been invested in EDGE for a couple of years so what does a matter of a few extra days make.
From the financial statement...........
The Company has demonstrated a consistent record of highly successful and accretive acquisitions – especially for a junior E&P company in the midst of an illiquid equity market. While the bulk of value continues to be created with the drill bit, it is reasonable to expect that opportunities for additional acquisitions will present themselves in the future.
While equity capital still remains exceptionally scarce in North America, the Company has secured significant debt facilities, enjoyed successful drilling results that improved cash flows and has established a proven ability to raise equity from strong institutional relationships and partnerships, all of which should allow continual measured growth. In the future, the Company may continue raising additional equity when necessary, from both Europe and North America.
In any endeavor we pursue, whether through the drill bit or via acquisition; oil or gas; vertical or horizontal; deep or shallow, at the core of that pursuit will be maintaining the fundamentals that have brought us success in the past:
1. High capital efficiencies and recycle ratios (> 2.5x recycle ratio)
2. Fast payback on capital invested (< 12 months)
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