GREY:CXEYF - Post by User
Comment by
Throwitinaholeon Apr 18, 2013 2:12pm
152 Views
Post# 21271231
RE: debt
RE: debt Emailed John and here is what he has to say.
Thank you for your note. We do not have any plans to liquidate and we are optimistic about our prospects. Please see the recently published article by European Oil & Gas (link below):
In terms of value most lenders, equity analysts, etc. look to the PV10 as evaluated by an independent reserve engineer's report. Our reserve engineer's report (Ryder Scott) was released a couple of week's ago. The PV10 value ascribed to Candax was $82.9 million. As of the end of March our net debt was $32 million. Therefore the value ascribed to equity holders is $50.9 million which works out to $0.05 per share.
I hope this helps,
John.
Anyone else have anything to add or opinions??