I have followed your lead and sent in some suggestions last week. Where the company should go ... in terms of any required finance depends primarily on the bankability of FP and Goshen AND the overall prospectivity of these plays. North Stockyard is a given.
TB doesn't like debt. For "bankable" play development I DO like lines of credit as they free shareholder funds for higher risk exploratory plays.
My uniformed guestimate is that the Goshen Permian will be very proviftable BUT in comparison to the Bakken, IPs will be far lower but with very high EURs. I may be wrong and we can but wait for guidance on this. FP will be profitable but payback will be significantly less than North Stockyard. SO unless we get 1000 bopd from somewhere, a (cheap US) line of credit would be far far preferable to the CR contingency.
cheers
SSN Price at posting:
8.3¢ Sentiment: None Disclosure: Held
