OTCPK:ATGYF - Post by User
Comment by
StudyStockson Nov 04, 2015 10:10am
73 Views
Post# 24257272
RE:RE:RE:RE:RE:RE:v.AEN has $ 17 Million cash (9 cents a share !) & zero debt
RE:RE:RE:RE:RE:RE:v.AEN has $ 17 Million cash (9 cents a share !) & zero debt From Antrim Energy's August 26, 2015 news release: Highlights
- Commencement of four well abandonment program in United Kingdom Central North Sea
- Significant cost reduction expected from summer 2015 abandonment program
- Continue to evaluate new opportunities for transformative upside potential
- Strong financial position including cash at June 30, 2015 of US $13.5 million
- Large reduction in ongoing G&A costs
Outlook
The Company plans to look for additional M&A opportunities and assess those opportunities based on, amongst other criteria, strategic fit, focus on near term appraisal / development, use of funds, transformative potential with upside potential for Antrim shareholders and current or near term cash flow.
The board of Antrim views the Company's strong financial position as a competitive advantage in the current volatile oil price environment and the Company will continue to seek ways to reduce the Company's G&A costs to further protect its financial position. G&A costs in 2015 are budgeted to be approximately 50% of G&A in 2014.