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Long Run Explor Ltd Ord WFREF

"Long Run Exploration Ltd is engaged in the development, exploration and production of oil and natural gas in western Canada."


GREY:WFREF - Post by User

Post by Frediboyon Nov 28, 2015 1:10pm
112 Views
Post# 24334793

Corect me if wrong

Corect me if wrongOn May 29, 2015, the Company completed the semi-annual review of its credit facilities with its banking
syndicate. Credit facilities were maintained at $695.0 million. The amended credit facilities consist of a
$410.0 million revolving syndicated facility, a $40.0 million revolving operating facility and a $245.0 million non-revolving syndicated facility. Bank fees related to the amended credit facilities totalled $3.5 million. At September 30, 2015, $595.6 million was drawn against the credit facilities (December 31, 2014 - $611.7 million).
So that mean we already have 100 millions paid back and with 100 millions from the chinese we are short 45 millions
So we almost can pay with cash flow.
That said most of the hedge are falling on 31 dec 2015 . So we can expect to loose around 17 million quaterly cash flow at curent oil/gas price.
So we will be above the ratio the bank want debt/ebitda 4.5-5 and interest coverage 2.75.
This should be manageable , maybe a litle bit of assets sale ...
We should be able to weather this storm !!
Please let me know if i missed something or if i am false somewhere !!!
thanks
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