Financial Instruments ImpactThe debentures, due in March 2029, have a 10.25% rate and could lead to 12.4% dilution should they be converted.
Reserves DeclineJourney reported declines in all reserve categories, indicating a decrease in the estimated recoverable oil and gas volumes.
Valuation ConcernJourney's EV/DACF multiple is currently at a premium compared to the average of its junior oil peer group.