a reply from sar, page-4

They can't close the hedge while debt facility is in place

What are the chances of finishing the cut back and having
cash left over close the hedge and pay of debt

Even now if the close the hedge paid of debt they would have $30 million at most

After another $15 million goes on prep work in the next year
there will only $20 million cash and $45 million of debt

They really need positive cash flow and that hasn't come yet
even with the hedge

IMOO