GREY:VFGGF - Post by User
Comment by
jayd54on Mar 12, 2013 12:55pm
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Post# 21116774
RE: high debt a problem???
RE: high debt a problem??? Given that PRY received a $12 million break fee from the failed Spartan deal, I would suggest that the debt issue is far less of a concern. Instituting waterfloods are pricey on the front end, but do pay off with increased production volumes. And with the proven waterflood capability of the Gilwood/Granite Wash and Slave Point in the area where these guys play, would suggest that an unsuccessful project is highly unlikely. It will just be a matter of time before the cash flow improves, particularly given the high quality crude involved.