Thanks TT ... only a WAG though ... more likely wrong than...

Thanks TT ... only a WAG though ... more likely wrong than right.

I would agree in the equity raise (with the caveat though that unless oil makes those $40+ numbers you are expecting and stays there) that it is going to very expensive ... but LONE was essentially forced to do so with their preferred issue.

I think SNDE has a bit of a "get out jail almost free" card with the way the hedges are structured, as they are essentially "overhedged" at present. So if there is some announcement wrt to curtailment & suspension of completion (but maybe still drilling?) that gives them the opportunity to "cash in" their surplus hedges (with they should have already done if that's the case). $15M would make a big difference (e.g. removes the effect of MLA if that gets added).

Tonight? ... wishful thinking given their track record to -date. It will come when it comes.
No default. Temporary relief, stricter covenants and a plan of action for the 2L Notes. Optimistic view.