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OANDO ENERGY RESOURCES INC WTS T.OER.W



TSX:OER.W - Post by User

Comment by Greenchipson Sep 04, 2012 5:13pm
244 Views
Post# 20316713

RE: financials

RE: financials

The Q3 financials have not been released yet and they will be the first showing the newly combined company.

However, the plan was to have the Upstream assets vended to Exile with no debt owing to the parent, $60 million in cash and $60 million in term debt owing to a Nigerian bank, effectively the new entity would have no net debt.

Since the transaction was delayed, one would assume perhaps half of the cash would have been expended on new drilling (successful so far) and new working capital would be at least $30 million.

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