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34,339 Posts.
9121
19/04/18
08:43
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Cash: US$77m(post-acquisition)
Debt: US$250m(post-acquisition)
Net debt: US$173m(post-acquisition)
Net debt US$173m, comparing with EBITDA of US$250m p.a at crude oil price US$56/barrel, is not huge. Reserve has already been approved, it's onshore.
At today's oil price of US$68/barrel, EBITDA would be around US$345m.
The underwritters dump won't take long, imo.
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