Happy with those numbers and the commentary across the various assets. Some good focus and nothing overly flashy.
With respect to cash... they can, if needed, further reduce their exploration/development spend. IMO the cash is very manageable and I would think Fortress would be falling over themselves to role the facility. Personally I'm not sure what all the fuss is about... its important to understand the nature of operating cash outgoings and the fact that a large proportion are optional.
The idea of a capital raising is interesting but a long way from necessary. The people pushing this can't be serious.
Unless of course a very specific opportunity presents itself.
On another note: Does anyone have a reasonable current valuation of the US oil assets (ignoring debt)? Am curious to hear some estimates. I'm thinking $200m or is that low?
Anyway... as a long term holder I'm very comfortable. But will be keeping a close eye.
Fun times.
LNC Price at posting:
53.5¢ Sentiment: Hold Disclosure: Held
