LLA 10 (Malivar 1) and Notes.. Im a little surprised that we going to go after Malivar 1 here... its a big ticket item... cost about 9 million.
But I think its more to do with the fact that we are gushing cashflow.. and its a pretty big target as well.
Success would bring a whole new level of appraisals and developmental wells, owing to the many targets
on the block.... SO that is at least to me another positive surprise....
Senior Notes can be repaid back any time after Apr 19, 2013, due Apr 2015...
At 11.5 pa, its possible that management may want to clean these off the books..
4500 boes/day at 70 plus netback, and that wouldnt be too big of an issue to do that..
Company..Its cheap, perhaps very cheap to me... But, I do think with the production numbers at these levels, its one of those under the radar companies. Its a little reminder to those with warrants, that sometimes really good things..(higher prices) sometimes take a little longer than what we want... But in the end, I think we get our just rewards here, coming from higher production levels.... have a nice day..