That's not actually correct.
What they said was that it was not included in the calculation of the existing borrowing base and hence will have no impact on the future borrowing base.
I'm pretty sure the sale of Dimmit will still impact the audited Reserve report dated March 2018 as that almost certainly would have included the Dimmit asset.
The reason this is so important to know what percent of that March report it was is that it helps value the remaining assets.
For example if it was only 5% of that reserve report then it was a great sale price and the shares should be much higher. However if it turns out to be say 15% of that reserve report then it was a terrible price and the company may well be in quite a bit of trouble.
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- Ann: Agreement to Sell Dimmit County Assets for US$29.5 Million
Ann: Agreement to Sell Dimmit County Assets for US$29.5 Million, page-31
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