LOL Rob79, zesty discussion is good. Yes hedge calculations have not been kind to you on EBITDA calcs but that's fine - not looking for exact. I've been a little better on those multiples but then I am calculating them a little differently. Don't forget the deferred settlement cost though.
With respect to asset sale/farmout - I don't think so. I'd say 0% chance of that. The bank has the mortgage. Any sale or reduction in NRI will result in BB reduction and that's the last thing SSN wants to have happen. $20.5M is the number and that's after $10M has been raised (of which at least $5M has to be equity).
And sure we don't have all the info - but IMO we do have enough to make educated estimates (same as those brokers but we are not profiting from selling stock to customers).
This is taken from Schedule 2 Compliance Certificate from the MOB Credit Facility
Column 1 Column 2 Column 3 Column 4 Column 5 0 II. Section 7.12(b) – Leverage Ratio.2 1 A. Total Funded Debt (all outstanding liabilities for borrowed money plus other interest-bearing liabilities, including current and long-term liabilities): $ 2 B. EBITDAX 3 1. net income: $ 4 2. less non-cash revenue or expense associated with Swap Contracts from ASC 815: ($ ) 5 3. less extraordinary or non-recurring gains and other extraordinary or non-recurring income: ($ ) 6 4. plus consolidated interest expense: $ 7 5. plus income taxes: $ 8 6. plus depletion, depreciation and amortization: $ 9 7. plus other non-cash charges $ 10 8. plus exploration charges $ 11 9. Total EBITDAX: $
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