SEA 0.00% 16.5¢ sundance energy australia limited

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

  1. 11,058 Posts.
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    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.
 
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