Joseph/Raving.
Drilling divisions is valued at $56m by Edison. We paid $200+m for Mitchell drilling by AC back in 2009. So it is at a significant discount.
Cash flow wise we need to contribute $20m to Cuadrilla up to June 2019. This is covered by the $25m sale of E&C. So we are covered until gas flow is confirmed and plugged in the grid. Cuadrilla will be self sufficient if gas flow is confirmed.
We have $75m debt. A sale of $60m for Drilling divisions is a great move to wipe of most of the debt.
Ann: AJ Lucas statement, page-6
-
- There are more pages in this discussion • 34 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
