Re: Proxy forms filed for 2019 annual meeting
AXAS Year end 2015: We are also required as of the last day of each quarter to maintain a total debt to EBITDAX ratio of not more than 4.00 to 1.00. At December 31, 2015, the total debt to EBITDAX ratio was 3.05 to 1.00.
As I looked at the 2015 proxy with those metrics this story came to mind...
Have you heard the story about the Zen Master and the Little Boy?
A boy is given a horse on his 14th birthday. Everyone in the village says, “Oh how wonderful.” But a Zen master who lives in the village says, “We'll see.” 'The boy falls off the horse and breaks his foot. Everyone in the village says, “Oh how awful.” The Zen master says, “We'll see.” The village is thrown into war and all the young men have to go to war. But, because of the broken foot, the boy stays behind. Everyone says, “Oh, how wonderful.” The Zen master says, “We'll see.”
The message behind this story is pretty clear. We're very quick to jump to conclusions about whether something is "good" or "bad." The reality is that most things really aren't either. They just are. They exist.
It serves as a nice reminder to consider things from more than one vantage point.
It serves as a nice reminder that most things are not permanent or insurmountable.