I’m happy to be proven wrong mate but let’s see where their net...

I’m happy to be proven wrong mate but let’s see where their net cash position ends up in a month and a half. I think you’re missing that the wcs/wti spread has also blown out and the gas price is unders what they used in their H2 forecast.

the net back is irrelevant if they are just spending it all - sorry but they’ve already guided to spending a chunk of your net back in h2. Like I said their own numbers say best case is $15m fcf available to shareholders (post capex)… of which $5m i calc is q3. Spin it however you want im just trying to add some perspective

q3 capex spent in q2 is a red herring - they just keep “bringing forward” capex… so q4 capex in q3 and so and and so forth … so really the only thing that counts is the cash coming in the bank

the $30m facility is also a red herring. That’s just a working cap facility as mgmt have pointed out. I’m looking at net cash - $2m at June 30. Best case for q3 in my mind is $4m (after returning 2.5m cap return)

would be very glad to eat my humble pie and be proved wrong come 31 oct when they report so let’s revisit this then haha