Hi Invertedva
I guess it depends how bad TPD's cashflow gets. Santos won't be paying in 7 days for the gas - its probably a 30-day credit facility. So - add an extra 60 days on to have the sales cash in the bank. Why 60? because that is the way accounts work and things get dragged out. I am presuming that there will be no sales funds deposited until November if the gas tap is turned on in September.
STX is not TPD's overdraft. If they can't pay their share of Walyering and other ongoing costs, can't raise more cash, then they are technically insolvent. The price they get offered from STX next time then won't be as good as the one they turned their noses up at now. TPD might be kicking themselves within a short space of time.
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