RE:RE:Q1-14 Cash Flow EstimateYou could be right on the cash burn. As I noted, It all depends on the capex plus maintenance. I assumed $210M capex and $90M maintenance for a total capex of $300M. It could be as high as $350M, which would put it closer to your number. It's just a best estimate since I have no info on the monthly rate at which they plan to spend capex.
Since we will have a coker turnaround split between Q2 and Q3, and things would be pretty clear for them by Q3, my best guess is that when they report Q3 at the end of October, future expenses/spending will be pretty clear and if oil continues in the $100 range, they will add 5¢. I then see another nickel in H1-15.
Namsoc