With their cashflow of about $10 million/year, $5 million loan and the potential $9.4 million from option conversions over the next 2 years, they will be well and truly "fully funded" for future gas production/expansion, seismics, drilling and any hicupps along the way. Could even see a dividend payment earlier than expected. MEL's future transition to a gas producer is now financially secured.
Ann: $5m debt facility secured to deliver Odin gas to market, page-38
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Mkt cap ! $5.790M | |||
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