RE: RE: don't panicUntil the day before the last dollar is spent, nobody can say it's over.
Nova made a great deal 28 days before having to cough up $100million that they didn't have.
If OPTI has potential suitors willing to pay close to book value right now, they can go to the bank and get more money. They admitted last year, when they got the $400 that they could get $800 if needed. Even with out the suitors, they were already approved for the money. Nobody said that it was tied to production increases but I'm sure it helps to keep steady growth.
$3b owing with $150 oil and $1.20 CAN/US exchange and full on all expenses break even is no worse than $2 b owing with $60 oil and sub par CAN$!!!!! IN fact, it's not bad at all.
Any chance that this oil guy is quoting PSC sales, not bitumen?
These guys are so close to making a $hit pile of money.....oil up, wells up, steam up, production up. The peak oil panic is soo close, and it is not funny.
Companies that go tits up are ones with no land in sight and really do need a lifeboat. This is not the case here. They have the revolver (credit, not gun!) and they will use it if they have to...Lazard will make sure of that.
Ideally, as Attourney said, an L/C sale would be the best scenario.....one that may not have been entertained until Lazard was hired, so they will need some time to make something like that happen.
On top of all this, not sure what to take out of this; but, my Scotia broker is pretty much out of knowledgable resources who can legally advise shareholders about OPTI.....they all know too much or have been involved. TOO MUCH WHAT....INVOLVED WITH WHAT???? If OPTI is running out of money.....well, we alll know that ......so that's not a secret.
Obviously something is happening. So anyone who says "it's over", doesn't know chit!!! Not that I know anything either, but I'm also not letting my mouth write checks that my a$$ can't cash.
Giver