given that the tide seems to be slowly turning on the oil price do you think that SNDE may be able to delay things a while further?
provided that they are able to obtain waivers to the covenant breaches for a little while longer, they do still have capacity under the revolving facility and just under 30M of derivative financial instruments (can they access these?)
I personally think it is going to be tough but I wonder if this presents a good opportunity for someone with cash?
Hi
@zereal
Noting the comments below from SNDE regarding the debt restructuring prior to 30 Nov, I will not be touching this whilst there is the risk of ch11.
If there is a debt restructure, what would be the cost of associated equity dilution...
I think there are better leveraged plays to oil that will hopefully survive.
Good luck