or I could take the more than tripling of oil production as a guide from the AGM preso (but not the $6.8M Revenue)
Thus first 23,812 Bbls oil worth $2,347,389 approx
The next 80,000 Bbls worth maybe $3,652,611 (using $45.66) as the Williston Basin Sweet Average for the Qtr.
Add $400K for gas
Total $6.4 and at $29/Bbl lifting cost looking at overall LOE of about $4M and G&A kept same.
Rough Qtr EBITDAX of $1.19 & annualized to $4.76
SAFE! as its above $4.43 (say 7.5% wiggle room)
Question switches to - are more funds needed to D&C any wells in Q1/15 (as production increases over Q4/14) then the decline curves takes over. IF SO, will debt be available (fully drawn now as I read it). If not what would be the plan to remain compliant with the debt covenants.
SSN Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held