$5.5 mill cash and bonds $1.9 mill expected outgoing next quarter $3.6 mill in the kitty for next quarter
$5 mill US debt facility to draw down on to finalise the development of NSA to be approved shortly, this will most likley occur once the independent consultant provides a reserve estimate that is also due out very soon.
Overall looks fine and to be expected.
Interpretation of the Vertical wells was not clear, it could be misinterpreted that the 2 well are producing 100 BOPD combined. Previous announcements however indciated that each well was producing approx 100 BOPD each.
More interested to see the results confirmed with the Horizontal well as this should also be due out this week or next.
Would have liked to have seen the aniticpated time lines for production facilities expected to be finished so we have production dates which equals revenue $$$
SAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
