The Elephant in the Room, page-7

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cmonaussie

10,787 Posts.

3554

12/04/16

09:12

Post #: 17478699

Originally posted by cmonaussie ↑

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

1 II. Section 7.12(b) – Leverage Ratio.²

2 A. Total Funded Debt (all outstanding liabilities for borrowed money plus other interest-bearing liabilities, including current and long-term liabilities): $

3 B. EBITDAX

4 1. net income: $

5 2. less non-cash revenue or expense associated with Swap Contracts from ASC 815: ($ )

6 3. less extraordinary or non-recurring gains and other extraordinary or non-recurring income: ($ )

7 4. plus consolidated interest expense: $

8 5. plus income taxes: $

9 6. plus depletion, depreciation and amortization: $

10 7. plus other non-cash charges $

11 8. plus exploration charges $

12 9. Total EBITDAX: $

Expand

Yuk on the formatting.

Can't even get a cut/paste from PDF to work. Best I can do.

SSN Price at posting: 0.6¢ Sentiment: Hold Disclosure: Held

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The Elephant in the Room, page-7

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	Column 1	Column 2	Column 3	Column 4	Column 5
1	II.	Section 7.12(b) – Leverage Ratio.²
2		A.	Total Funded Debt (all outstanding liabilities for borrowed money plus other interest-bearing liabilities, including current and long-term liabilities):	$
3		B.		EBITDAX
4			1.	net income:	$
5			2.	less non-cash revenue or expense associated with Swap Contracts from ASC 815:	($ )
6			3.	less extraordinary or non-recurring gains and other extraordinary or non-recurring income:	($ )
7			4.	plus consolidated interest expense:	$
8			5.	plus income taxes:	$
9			6.	plus depletion, depreciation and amortization:	$
10			7.	plus other non-cash charges	$
11			8.	plus exploration charges	$
12			9.	Total EBITDAX:	$

The Elephant in the Room, page-7

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