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AAVVF - Advantage Oil & Gas: Not An Investment Opportunity Anymore
Advantage Oil & Gas Ltd
A few days ago, Advantage Oil & Gas (OTC:AAVVF) announced a disappointing 2020 capital program when compared to its three-year plan. That multi-year plan, communicated at the end of 2018, envisioned an increase in the company's liquids production to improve its profitability and reduce its debt load.
But despite a recent oil discovery in its Progress area, the company's forecasted 2020 production and its liquids portion should be lower than previously anticipated. Also, management doesn't expect the company's net debt-to-adjusted funds flow ratio to decrease anymore.