![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Saturday, March 13, 2010 8:08:46 PM
Victory was generating about $60K - $100K in revenues quarterly at an expense of $1+ million. There were doing this around the time gas was selling for around $6/unit. So even if gas prices tripled or quadruple they still wold have been in deep caca.
The accrual accounting the O & G business uses to match income and expenses doesn't give a realistic picture of how much cash they are burning up front. Exploration & drilling cost, which run in the millions, are all capitalized as an asset on the balance sheet. They are slowly expensed as a depletion expense against the quarterly operating income. IMO, it would be better served to look at the Statement of Cash Flows - Operating Cash Flow when evaluating a small time operation.
Victory Energy for example had $4 million in capitalize cost for Adams Ranch...that's $4 million they spent up front. Making $60K - $100K per every 3 month isn't going to help very much in paying down that cost.
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM