back of envelope calcs on wti hedged prices =1350 boed x 90 days x $ 60 bbl =$7.29 million for next producing quarter to ssn in net revenue.
We are paying good "jink " to our directors; some of whom are finance experts; so their job is to convince lenders to extend finance to cover shutin period until revenues also become cash positive..
This is not meant to be accurate as far as production or prices in the near term are concerned ; but is my "logic" to say that we will probably be OK ; as long as Directors do not use SSN for their exclusive "LUCKY DIP"...
It would be nice for Chairman to give a fiscal forecast for the coming quarter. If it were to be a reasonable one; it might just stimulate some buying interest and give long suffering s..holders a chance to walk on the bright side of the road..
GLTA
SSN Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
