Immediate axing has been spared. BB now reduced to $19M after paying down $11M leaving $3.5M to put to work (and they needed that as the Hz stimulation being estimated at $400K/well x 15 wells = $6M)
Assuming all other covenants are in compliance, leaves only the equity transactions (asset sale doesn't count) to be completed the first one which was done earlier and raised roughly a little over US1M after fees if I remember correctly.
Sorry TOTB, plenty of dilution left to come. Not a rabbit either. Happy that they got $15M for NS.
GFTA
SSN Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
