RE: Financing ComingThe people still whining about the recent financings and those predicting further financings need to smarten up.
Durango development will be DEBT financed, hence the debt agreement with the bank of scotland. Once Durango comes onstream in October, BUK will have cash flow of over $200 million PER YEAR with which to drill for 3-4 years.
So stop complaining and fear-mongering about even more dilution. Evaluate the company objectively and you'll see that BUK is trading at just over 1x cash flow, which is ridiculously cheap, even for a company with a short reserve life.
And, of course, you get to have a look at the 400-500 million barrel North Piper target FOR FREE.
Whiners and fear-mongers be gone -- BUK is cheap.
Know what you own and come to your decisions objectively. Best of luck to all. JMHO.