bell potter's latest report, page-8

Very interesting article Katana, thanks for posting. These paragraphs are of particular note:

"Bell Potter's oil and gas man Johan Hedstrom says that it is probable that the company won't need to raise cash partly because of its $US100 million debt facility. The company can draw down $US25 million of it at this point, but this is based on its oil and gas reserves at 30 June, last year. It's undergoing a review of those reserves, which should more than double, meaning increased cash flow and Sundance will be able to draw down more funds.

The main reason for Hedstrom's confidence is the sale of one Sundance's Bakken assets for between $US150 million and $US200 million. This could go ahead as early as September, but there is always a risk, says Hedstrom: “If the sale doesn't happen Sundance might have to come to the market or slow down its ambitious growth plan.”

I've got no clue where the $150-200 million figure comes from. They may have got the Goliath sale confused with the South Antelope newspaper article, because as much as I'd like to, not one for second do I believe that Goliath would fetch that much.

I took the July Analyst Presentation as a hint that future Bakken sales (for South Antelope and Phoenix) could be considered to focus on the company operated growth plan, but I'm sure the Bell Potter's guy isn't talking about that as he mentions 'as early as September'.

That is unless SEA is looking to package their WI% with Helis' divestiture of their South Antelope percentage interest.