Bonterra Energy (BNEFF) released its Q1 results and amended its credit facilities. As expected, with the recovery of Canadian oil prices, the company generated a strong total netback.
But management must still focus on reducing the net debt. Thus, I don't expect any dividend increase in 2019.
Despite the encouraging results and the recovery of the Canadian oil prices, the stock price stays flat. Before getting into the valuation, let's have a look at the Q1 results and the debt situation.
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Note: All the numbers in the article