Mutual of Omaha Bank agreed to double the borrowing base to $50 million and decreased the interest rate, all while the world is crashing around oil companys. Surely this is a big plus for Samson.
What can SSN do with the remainder $31 million at it's disposal, in a depressed market, with assets going at fire sale prices? Well, they have already made the point of going thirdsy's on some prime conventional assets.
Samson is in a stong position while others are bleeding. As I have said before, these once in a lifetime opportunities don't come around too often, imo.
