Aussie, nightmare says it all.Its a bit like having a bet at the...

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Mirabiledictu1

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28/05/20

07:47

Post #: 44882147
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Originally posted by cmonaussie: ↑

Yes concerning. So is no news & so it oil price going away from $40.

I keep coming back to the Term Loan as the potential default threat as opposed to the RBL, but I've reread it so many times and the PV-9 does refer to latest reserve report (which I haven't seen but is referenced in the 10k). And as you've posted that is based on adjusted strip pricing (local differentials) for the remaining economic life, using SEC guidelines AND with the following further adjustment.

The problem I see is not the actual PV-9 value but that PDP is not at least 40% ... at that they adjust for production during the Qtr. Now its been like that for a while (without a problem) but I guess that's because they were developing quickly which would correct that problem. But with curtailments and suspension of completion that problem gets worse. And maybe why a solution is necessary???

Tell me I'm dreaming (nightmare).

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Aussie, nightmare says it all.
Its a bit like having a bet at the races on a 10 to1
Take 5% tonight or let it ride and maybe see it recover 10 fold over the next year.
I never averaged down .
I also only bet once a year in november , never won.
My gut does not feel good , but hope springs eternal , I will let it ride , a tribute to Richard Dreyfuss.

SEA Price at posting: 16.5¢ Sentiment: Hold Disclosure: Held
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