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Hey Binbin, The swaps account for approx 50% of Aneth...

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  1. gnole
    49 Posts.
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    19/04/18
    17:24
    Post #: 32565346
    Hey Binbin,

    The swaps account for approx 50% of Aneth production, so 50% is still exposed to spot rates.

    Grieves is a put option so all production will be sold at spot rates.

    Agreed the swaps are not ideal but we still have 50% production exposed to spot price, and as Dan has pointed out, we would not even have funding to purchase Aneth without the swap hedge (loan covenant).
    ELK Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 3  Upvote
    lightbulb Created with Sketch.  Great analysis
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