Loss of 9.7c per share did miss estimates of +2c. But the loss narrowed year-over-year on production and lower hedging losses. Revenue fell 25% to $291M. Production was flat at 34,683 b/d. Per barrel profit fell 68% to $10.27. It has a buyback in place and has spent $20M on share buybacks since it started in April. Not a stellar quarter, but the valuation is so low and the balance sheet rapidly improving. Even with share buybacks it will likely have net cash next quarter. Strong growth is forecast into 2025. We would be fine owning this and buying if not owned.
5i Research Answer: