Ikkuma reported fourth quarter 2017 operational and financial results that largely trailed consensus expectations. Production of 7,324 boe/d was pre released and included a stub quarter influence from its Husky foothills acquisition. Funds flow of $(2.6 mm) or $(0.02/sh) was shy of our expectation for positive cash flow of $0.9 mm or $0.01/sh. Ikkuma spent $3.2 mm in 4Q17, largely on drilling and completion activity, which left it with net debt of ~$56 mm exiting the year versus total current ....