Ann: March 2020 Quarterly Report, page-5

The EBITDA guidance has been strongly reaffirmed, also FCF for FY22 of $70-90M has been reaffirmed, very strongly too!

What is interesting to note, and not included (from what I can see) in the peak debt calculation is the reduction in total well's drilled. Senex has reaffirmed multiple times that peak debt will be less than $80M in Q1FY21. Current capital expenditure is sitting at roughly $41M/quarter and in the quarter the drilling contractor drilled a total of 21 well's... Roma North drilling is complete, and there are only 18 well's remaining at Atlas - so there is a high likelyhood that drilling may be completed this quarter.

Net cash outflow was $24M (cash position of $122.7M to $98.7M this quarter with drawn debt the same). For next quarter with further increases to gas production and gas sales, at largely fixed pricing, the net cash outflow will be lower, even in the low oil price environment. With a current debt position is -$26.3M, I believe Senex will come in lower than forecast.
Current Debt Position - ($26.3M)
FCF Q4 FY20 - ($20M)
Water Infrastructure - ($15M)
Future Debt Position - ($61.3M)

The lenders of the debt would have had to approve the net debt position of the company in the lending covenants, so IMO the fact that Senex is tracking below forecast peak debt means that they may be able to construct the Roma North extension under the current debt arrangements. Would mean an increase to peak debt, but a great time to do so...