OTCPK:EDEYF - Post by User
Post by
sebastian2on Mar 03, 2015 12:22pm
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Post# 23484236
Interim statement out on sedar
Interim statement out on sedar Management believes with its current credit facility, positive expected operating cash flows in the near future despite the recent significant decline in world oil prices and cash flows generated from its hedging program, that the Company will generate sufficient cash flows to meet its foreseeable obligations in the normal course of operations.
Management has significantly delayed the Company’s capital programs until the pricing environment improves and has and continues to work on strategies to reduce general and administrative and operating costs subsequent to December 31, 2014.
CapEx in question:
Management has been and continues to be active in seeking alternative sources of funding to help accelerate its planned capital expenditure program, and to ultimately reduce its total debt. The Company cannot provide any assurance that sufficient cash flows will be generated from operating activities to reduce its working capital deficiency and to carry out its planned capital expenditure program.
No mention of any strategic aquisitions that we saw previously.