Q: Your thoughts please on the quarter. When I read the press release it reinforces what Peter just wrote about in his blog about salespeople promoting their company.
Thx
Thx
5i Research Answer:
Revenue was $173M, missing estimates of $181M. Cash flow per share was 82c; Production was 23,618 b/d. Production guidance was maintained. BMO raised its target price from $10 to $11. Cash flow rose 32%. Debt fell $62M and the company continues to buy back shares. The balance sheet is now very strong and good growth is expected next year. With the stock VERY cheap, we are OK with a bit of promotion. SGY is also putting its own money up by buying its own shares.