RE: Sold to Bonavista Not just Bonavista as 8900boe sold and Bonavista taking 6900boe as I see it. Maybe wrong.
It will be interseting how analysts and the market value this play now but FEL definitely had to do something to strengthen its balance sheet in light of continuing weakness in nat gas (Even Isaac couldn't lift natgas: it even fell more!!). So, 80% oil flowing 4500boe with exit possibly over 5000. Line of credit $80MM and practically nil debt...wow!!! Over $6MM netback per qtr on new prodn levels..must analyse more but major thing is things could not go on way they were. If you think Bonavista got a real deal then buy them, eh?