NSE have hedges for 80% and hedging was a condition of the loan. See PR of 5/12/14 where 80% of forward production secured by Put options at $78 Bbl.
Like I said earlier, marginal acreage. And when you're a high cost producer things get ugly quickly. Thus the curtailment of drilling and completing wells.
Rock and hard place.
NSE Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
