Ann: Quarterly Activities and Cashflow Report, page-7

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29/10/21

21:34

Post #: 57195003
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Originally posted by stumpytrunks: ↑

Not plain to see at all. Not sure what current cash v current debt has to do with cashflow either.

If you adjust for non-recurring items (seems to be the fashion these days) they are netting $5.4m per quarter before repayments, and $3.7m post.

If you assume that the new well adds 1000bopd average at $70, you have net quarterlyincome after borrowing repayments of circa $10m. Added to the existing cash balance and there is circa $14m sitting there at quarter end - so enough to cover a 30-40% overrun on recent drilling without taking into account any increase in the Crimson facility. SM71 and SM58 are clearly giving enough funds to repay debt from that cashflow alone; let alone any contribution from the new well.

So no issue with paying for the current well, if the payment terms are at all friendly; and no issue with cashflow, erven without the new well contributing. Not sure what makes you think that it won't keep flowing.

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Thanks stumps my view also. I think today’s selling relates to new buyers not understanding and the use of stop loses. Close was up from earlier panicked selling.

BYE Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities and Cashflow Report, page-7

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