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30/10/15
22:04
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Originally posted by stylishlalit
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Hi Mike,
It means they have yet to receive the money i.e. Accounts Receivable which should be around $12-14 million(US$). Pretty good result by looking at existing Market Capital i.e. $60 AUD (or $42 m USD). Debt facility will be negotiated and soon full approval will be received. Importantly, TAP's committed exploration exps are minimal (A big Plus+ for TAP sp in this environment as mkt don't like cash burners atm) and our next qtr's 42% production is hedged around $62.75 hence we should see a strong quarterly results and also Debt (Net Position) should be cleared in next 6-7 months.
By the time, Oil may recover or even roar dramatically who knows as I don't see the world producing enough oil at these prices for long!
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Most Important: Its been almost a year since the production has started, and despite workover on quite a few wells Manora is producing exceptionally well around 14000 BOPD, which is a great result.