After looking at the " current PR " it does appear they realized the old dividend was killing them financially along with several other items. They have initiated the necessary steps to correct most of their past issues, were able to cut some jobs along with unload what appeared to be unprofitable rigs and prod. issues and gain momentum in the plus col. in doing so. Question is, can they maintain this level of profitability?
Guess we will see in 2014 if all of these events have changed the business model enough to " bump " the current dividend 50% more to the + side once again. The dividend was a very important part of ERF's PPS structure as management should now be well aware of and to cut it in half basically took a lot of interest out of this company......IMHO!
I don't expect much more happening other than holding their own for the rest of 2013. I am more interested in the Y/E numbers for 2013 along with the demand approximation for next year which should hopefully bring the PPS back to the $20+ range.
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