Why neglect to add that the Borrowing Base of that facility is $19M and was estimated based off Reserves report of 30 June 2014 where the NPV10 of the Proved Reserves was valued at $50.4M
Furthermore why neglect to reference that the prices used for that NPV10 calculation were as follows:
Oil: Benchmark price $100.11/Bbl and Proved Realized price $91.63/Bbl
Gas: Benchmark price $4.10/MMBTU and Proved Realized price $7.69/Mcf
By adding the above your statement wrt to the debt facility now becomes truly complete as opposed to just completely true.
Do you still think the Bankers feel confident that the value of the collateral behind the loan is worth $54.4M?
SSN Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
