re: Official Erin Energy (ERN) thread

Third quarter 10q released this afternoon. It's nice to see revenue and an average price of $50.20 per barrel of oil.

11,600 barrels of oil gross were produced a day. Production is/was supposed to be at 14,000 or more a day, but that's a barrel of oil equivalent amount. Either gas made up the remainder, or production dropped.

They only sold about half of the oil they produced. Maybe a tanker didn't take that oil before the quarter ended, maybe they're holding it to get a better price later, or maybe something else happened.

Production costs have declined year over year. That's good considering ERN is producing 3x as much oil as a year ago and selling it for half the price. Depreciation expense up, interest expense up as well, a lot. -$0.28 a share in earnings for the quarter.

That's what I see quickly. I'm looking deeper right now, particularly at the debt.