I'd say EPR are walking a very tight rope when it comes to cash-burnout.
By mid year they had $3.1966 mil cash, by Sept end it down to $1.697m, so $1.4996m spent.
We know that offshore rig hire is much more then an onshore rig & assuming a similar sort of cash burnout (if not more), EPR are left with apprx $197k in cash (1.697-1.4996)
No wonder the major partner in the JV (BPT) is calling out for money to cover the operating expenses.
Wonder where EPR are gonna find more money from, till 21st Feb, perhaps sell a bit of stake in block PEP168 to someone else mayb to Beach & postpone the seismic programs, run a few staff off, I don't know.
Tough call to make indeed but can b done.
cheers
EPR Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
