RE:RE:RE:Divi Cut Again?gashole wrote: Really,? cash flow positive? I was reading they were going to have a negative cash flow position of something like 280 to 350 million based on $60 oil... after dividend of course. Was this just my imagination or did anyone else read this? I will have to go look again for the report.
You are correct, planned negative cash flow after divy cut is ~260 million for the year.
Hence they are bumping up against covenants.
Sure borrow more money (like someone hear keeps mentioning) and they will break the covenants and have no choices.
IMO buying Aurora was a bad move and put them in a finacial pickle.
Having said that their book value is quite low, so the banks are going to bend over backwards to ensure BTE stays alive to pay off their debt.