I was asking myself the very same question yesterday, so I rang Alex Parks. According to him the total net debt of GPC is $27 million. I didn't confirm, but that would have to be US$. This will apparently be reduced by the payment for the last shipment which is due soon. The discrepancy between your figure and the figure given to me may be due to the approx lead time of 2 months on payment. I was also told that operational costs incurred during this down time. These are apparently only admin costs and some helicopter flights (assume to FPSO). I also asked about the BHP MOU. It is legally binding for seismic and two wells, so no drill and drop.
This is my interpretation of the conversation, so I suggest that if anyone has any queries that they ring Alex.
Cheers
Cheers
OEL Price at posting:
9.3¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)