Wayword, I think you need to do some maths if you think RFE arent going to have to raise some capital again:
Revenue = $4M/qtr, maybe $5M next qtr
Planned capex spend = $20M next qtr. They said last qtr planned spend was $15M and spent $25M. The drilling rate is not declining so they will spend $25M again no doubt.
Cash = $30M INCLUDING the $20M finance limit they currently have
So without increasing the finance facility limit any further the end of next quarter the company will have only $30M + $5M - $25M = $10M of cash available.
They will need to almost double 1P reserves by the end of next qtr to increase the debt limit by around $10M.
I'm not the person pushing the CR message, thats Dis, but a CR is certainly not out of the question - imo.
Cheers, Sharks.
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