Ann: June 2023 Quarterly Activities and Cash Flow Report, page-6

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retorn123

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31/07/23

16:58

Post #: 69085381
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Originally posted by Access2020: ↑

Can someone please enlighten me on the debt position, which somehow was $13.9m last quarter???????

There's the statement of "lowest net debt position" - now I've clearly missed something. I knew there was the loan for the pipeline project but that was for ~C$3.7m, which was drawn as at Dec 2022 per the Annual Report.

Then in the March 4C we have that $3.7m plus another ~$1.1m for a total of $4.8m.

Now magically the debt number was $13.9m - wtf??? You can't change history like that. Hopefully I'm missing something simple but perhaps not.

My only explanation is that some of the Accounts Payable may have been debt but if that's the case then that's pretty poor from Mark Freeman

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its net debt, which includes recent payables and receivables from doing business

standard E&P this size continually carries about $10m as capex is spent, then ongoing production repays

paying down net debt is a sign they were/are very close to a transaction...or will let it go out again

CE1 Price at posting: 9.2¢ Sentiment: Buy Disclosure: Held
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Ann: June 2023 Quarterly Activities and Cash Flow Report, page-6

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