GREY:LSTMF - Post by User
Post by
ltrabson Apr 14, 2014 9:00pm
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Post# 22450499
OPERATIONAL UPDATE AND $141 MILLION ASSET DISPOSITION
OPERATIONAL UPDATE AND $141 MILLION ASSET DISPOSITIONSold the SE Sask. land.
Not much production sold, but generated a lot of ( $15 mil ) royalty income which I assume means
Netback will be hurt as royalty income sold is same as adding ( $15 mil ) to royalties payments .
Production down a little from Q4.
Drilled a pile of wells, not aeny were finished and producing.
Pulled in $250 mil. with sales, applying $100m of credit line.
quote ( reducing of our secured term credit facility by $100 million to $1.3 billion upon completion of the royalty transaction. )
Funny, guidance is no change. I would have thought FFO would be down with sale of royalty income.