RE: News! Earnings increase of 591%, yet shares prI liked the 2009 update, which answers the debt questions we were asking:
2009 UPDATE
- Entered into a new banking syndicate commitment that has our credit
facility increasing 64% to $115 million from $70 million at the end
of 2007.
- Expansion completed on Vero's operated gas plant in Edson from
20 mmcfd to 35 mmcfd.
- Revised exploration and development capital budget to a flexible
$45 - 50 million from $90 million
So they slashed exploration and development in half + increased and secured additional cash through their credit facility. Hopefully this puts Vero through the crisis.