I'm not surprised of this release.

The impact of their wrong decissions done when the crisis started is clear.They took to many risk with looking for a finacial deal for Algar at a to high interest rate .The second disaster came when oil price tanked ,their hedging to late by then ,lowering production etc..

What we do not know is if they didn't act that way should they have needed the esp pumps?I guess before the crisis started their SOR was not so bad or am I wrong on that?

Indeed right now they do a lot of efforts to bring things in line again but they twisted their words about the situation we are in now.They can't afford a bad economic situation again with oil price falling .Therefor the rope around their neck is still to tightened.

I think sp will follow oil price and the bourses + economic situation.Even if Algar should start up there is still no evidence they will achieve the design output if we look to what's happenedd with pod 1.This stock remains a risky one for many months and IMO one for trading ubtil we have facts of incoming increasing cash .

i still can't understand why management put this company in such a tricky situation.They talked about their compettors and their values compared to CLL's but they probably forgot to mention their debt situation.They can easily talk about their 50.000 bpd target but i think they don't know by far right now how they will achieve that.Therefor the bag of debt upon their back is like a bear chasing them.