Guessing at some of the figurework here - Macq Bank putting up around $44/$45mil(@5.6%pa) with the balance of around $16/$17mil coming out of IMP's Bank A/c to finance the $61mil total cost(incl legals & advisor costs).
Revenue based on 590boeq/d @$90 = $19mil/pa less operating costs of $4mil/pa,finance costs of $3mil/pa and admin costs of $2mil/pa gives a net cashflow margin of $10mil/pa less $4mil/pa in amort/deprec costs to give a net profit of $6mil/pa.
That's not bad for a Company presently valued at $14mil but as all funds in IMP's Bank A/c have now been utilised they will feel the need to top it up with a placement and a SPP(or rights issue).
They will need to hedge at least 75% of the oil revenue going forward given the high leveraging of this deal.
Total amount owing to Macq Bank now is $75mil.
Guessing at some of the figurework here - Macq Bank putting up...
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