Fair enough Rob, but depleting reserves to cash also has the effect of reducing the collateral value (oil price remaining equal) for the debt - which does need to be repaid or rolled over. And if there are less Reserves logically there is less collateral and less lent against it. Just looking at both sides of the coin.
Liquidity is no concern in Sep Qtr, possibly even Dec depending on Rainbow well spud and the seismic spend timing. You sure about 2016? Guess it depends on the farmout on the new project and HS project.
Rinse and repeat on hedging is easier said than done. Look at the upstream MLPs and the difficulty they are having.
SSN Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
