So SNDE has advised "... the Company will be relying on the Order and will be making use of the 45-day grace period provided by the Order to delay filing of its Part III Information. The Company plans to file its Part III Information no later than June 13, 2020."
OK that takes care of the annual report .. but now that is not the most important announcement anymore is it?
There is the Spring Borrowing Base redetermination that would have occurred (believe it would be as of end Mar'20). Going by prior year filing, this should be appearing ~ 21 May.
Haynes & Boone has previously reported (in their April 2020 presentation) that "Respondents expect producers to see downward adjustments of 20% or more in their upcoming redeterminations". SNDE has elected their BB at $190M and as of last presentation had drawn $115M ... so in theory, if there has been no further drawdown, they could handle a $75M cut (~40%)
What price for Oil ... hows post crash mean of $27/bbl (and that's before April 2020 pricing)
SEA Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
