Contango Oil & Gas Is Buying Its Way Back [Seeking Alpha]
Contango Oil & Gas Company (TX) (MCF)
NASDAQ:AMEX Investor Relations:
contango.com
Company Research
Source: Seeking Alpha
Summary Chairman John Goff now has the company heading in a new direction. Two major acquisitions will completely change the company. Cash flow will take a jump beginning in the fourth quarter. South Delaware wells coming online will add to the cash flow increase. Long-term debt now appears to be in normal range. Debt repayment and growth by acquisition will be priorities. Every now and then the most important part of the quarter is not the earnings. That was definitely the case for Contango Oil & Gas ( MCF company replaced its credit agreement Source: Website January 10, 2020 As shown above, the stock price dropped significantly over fears of the impending maturation of the credit line in place. Once the credit line was replaced, then the stock rallied. The company did need to sell more than 40 million shares Shopping Spree Now management can get on with the business of rebuilding a company that once had a great growth track record but has since fallen on hard times. Management has
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