I know we have big CAPEX
But we had spent 106 + 76 in the two first quarters of an estimate 270 to 290
Theres a 20m deferred tax payment for the DJ Sale - may or may not fall due
Last quarter we got 30m EBITDA D&A are paper figures so Tax and interest have to be accounted for
That was off 5138 boepd
If we are now at 9000 boepd then we should be getting approx 48-52M EBITDA this quarter and 55m+ next quarter
Starting at 124 , take 60m this Q and 45M next Q , add back in say 40m and 47m and things are looking pretty good... after a massively positive 12 months then 40 odd wells next year = 280m , with further rises in revenue and things will be tight capital wise in late 2015
The tax liability should be reduced with a purchase of further acres and or accellerated program..and during that CR i bet they repair the balance sheet slightly and or accelelrate...
There will be the usual CR dribble form some punters but we know how it works...
So im expecting they will come out with the quarterly...which will be a big one...let the sp go up a bit, do a CR and then either make a purchase or simultaneous sale and purchase announcement .... that way by Dec they can request a reserves update ready for end of january announcement to include any new acreage thats got some well results on it.
SEA Price at posting:
$1.20 Sentiment: Buy Disclosure: Held
