RE:RE:RE:RE:RE:Buyout?I know what the straight of Hormuz is lol, if you're in oil and don't know about Hormuz you're an idiot
they have bought more time... but the only reason they were "cashflow positive" is becuase they recovered $50 million in deferred tax recovery + massive FX recovery... those are non-operating financial addbacks unrelated to actual operating cashflows.
BTE lost over $50 million last quarter comprehensively with around $60 million cashflow loss to the business. Book Value is highly unreliable and subject to reduction on further potential writedowns. WHen they exhaust credit, look for a working capital PP or asset sales.
BTE needs $75-100 oil. What are your Eagle Ford projections?