No they aren't are they Leverage - goes to the character of some...

No they aren't are they Leverage - goes to the character of some individuals. I take you feel the same way maybe? Is that a serious board or just a site that flames those who discuss actual reported numbers?
BTW had dinner in Melbourne the other night with a someone you know. Funny how people's opinion of one another are formed.

Yes Buc, a Qtrly or 10Q by definition is looking in the rear view mirror. Looking ahead is what you have to do (and SSN even gave a couple of paragraphs on that)

Annualized, perhaps Chryss ought to look up the meaning. "Tested on a quarterly basis and Debt to EBITDAX (annualized) ratio no greater than 3.5". In case a simple example helps if the EBITDAX for the Qtr end 31/12/2014 was $1M then annualized it would be $4M. And if the Debt at 31/12/2014 was drawn to $15 then the Debt/EBITDAX ratio would be 3.75 and that would be a breach of covenant.

Anyway, I didn't write the 10Q - SSN did! The question that ought to be asked of Terry - What exactly was the reported EBITDAX for the Qtr? Annualize that and Bob's your uncle so to speak.

The very next question ought to be what is the estimated EBITDAX for the current quarter and on what basis (production, ASP and Cash Cost).

Bragging? Really? The digital footprint remains there for all to see.