RE:RE:RE:RE:Closing the Gap down on the daily chart.wow I can't believe the shareprice is only at .32 cents. I was hoping for LC1 and 2 production and results but still mobilizing a rig? The impression the previous news release gave was that it was imminet.2 weeks max? 45 ft in the morador formation has to provide some great flow rates.
77 million in cash and we can't pay off our debt and meet our capital spending program. Something is wrong there. The interest on the debt is 11.5 percent which is a total rip off. If your not going to start a dividend then pay this off as there is no penalty. That would mean over 3 million in savings per year or at least refinance for a better rate? Rumi is at 12,000 ft. Anyone know what TD is suppose to be?
At least production guidance and the capital spending program will be released in December.
64 million of cash on hand at the end of september and 77 million is the current cash balance so that is an increase of 13 million over 57 days which is approx 225,000 per day. Four more days left in November and 31 days in december should add another 7.9 million without any production from LC1 or 2. This will take us to a cash balance of 84.9 million.
We have to be the cheapest south american play out there.