Boysy,
Imho people are exagerating CUE's debt position.
At 31 Dec CUE had 30% of the USD 20mm Maari facility yet to use, and an USD 8/bbl 2P debt facility on a project on the verge of production is hardly onerous imho.
It also had A$13 mm in cash and a budget spend of A$14mm this Q.
With Maari starting to delivery cash in the June Q looks to me like any requirement will be pretty minimal. Hard to know how well Oyong oil revenue matchs off against Oyong gas CAPEX therefore they might need a little, but surely less than 10% of mc, and then provided Maari is flowing well, my bet is some short term debt, or if equity then on a more attractive "Maari delivering" basis.
HZN is in a completely different league debt wise, and does not have the Oyong and PNG oil prdn to offset some of the CAPEX outflow.
EL
this is huge. 35000 barrels oil per day., page-28
Add CUE (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
10.0¢ |
Change
-0.005(4.76%) |
Mkt cap ! $69.83M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $23.97K | 228.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 793925 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 1043607 | 15 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| CUE (ASX) Chart |