re: cash position valuation cash on hand is 224M, a very healthy position!!!
and receipts outstanding of another 23M due on oil lift during the quarter
treatment of debt of 85M would depend on the terms of the loan, given that they are talking of paying the loan down they dont expect any cash flow problems in the near term.
also note the inclusion of banda oil leg in the discussions for tie-in to chinguetti, have never seen this included in reserves estimates in broker reports would hope the independant report does include the 50M barrels*19% OR 30cps.
going to be a lot of heat on the independant report if he doesnt doesnt give a fair representation of the company, i cant see a valuation under $3.50 as being fair based on cash and reserves, thats with no premium or value for future potential.
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hardman resources limited
re: cash position valuation cash on hand is 224M, a very healthy...
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