Interesting ..Specto; so let's run with your figures of 23$million in debt (at today's Tourmaline prices).
So what would be their net cash flow to service that debt? (and what cash flow left over?)
and
The Calgary Herald has mentioned that a few Juniors are turning their Gov't oil and gas leases back to the Gov't; because they can't afford the annual lease payments, and they can't find financing to proceed with the projects; so the Gov't gets the leases back for nothing (to sell the leases again down the road).
and
World Crude prices dropped today $0.97 according to bloomberg.