After SPP, they should have a minimum $8m.
2 EFS wells = $5m-$5.5m, depending on lateral length.
They will need to keep the $3m for Pierre well + admin next 12 months. Approx. $500k Q.
Debt finding only for Pathfinder and 6th EFS well on until cash flow kicks in 2015.
They need to keep that at least $2m up sleeves for next 12 months.
imo, we won't get tapped again (from what we currently know)
spp uptake level, page-60
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