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clock Created with Sketch. 02/08/18
09:32
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Originally posted by BSMeter
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On the end of year theorists...if Elk has not sorted out the oil production volumes from Grieve well before the financing, there will be no year end Happy Holiday period as Elk will not be able to successfully obtain the rate discount and terms it is suggesting is attainable. Elk needs a bare minimum 40 million USD per quarter turnover to carry its cost structure and eke out a nominal amount of cash flow to begin covering future modest capex together with the outstanding premium purchase price charges in year 2 and year 3. Even this figure barely enables meaningful development capex.
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Don't disagree with any of your comments although as best I can research this problem is solvable , the issue is there maybe a mismatch in timing of the solution and the debt fuse , the bigger the mismatch the more equity lost .
