My favorite Canadian oil and gas producer Yangarra Resources (YGRAF) released a new presentation and an operations update that contains the company's 2019 reserves report. After the publication of this new information, the stock price dropped by about 13%, which gave me the opportunity to buy more shares.
Image source: Yangarra Resources
(Note: All the numbers in the article are in Canadian dollars unless otherwise noted.)
Disappointing production
I believe the most important factor that triggered the negative market reaction was the estimated full-year 2019 production of 12,550 boe/d, below the guidance range