GOMBU is selling tier 1 assets for pennies on the dollar. Production is not increasing because the formula being used says that the BBLS in the ground are worth more than those in the pipeline. Also the new BSEE rules play a factor. Rex Tillerson (XOM chairman) called out CVX (in so many words) in the analyst meeting saying that companies like CVX will sell off legacy properties and loose their legacy status. They will no longer be the companies that they once were. You destroy your company when you sell legacy assets to raise money to pay dividend debt.
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Fire sale at AMBU and a garage sale at GOMBU.
What happened with GOMBU
My neighbor told me his company purchased assets from Michigan. He then told me several packages have been sold in PA. Is AMBU having a garage sale.