GREY:WFREF - Post by User
Comment by
cenderon Nov 30, 2015 8:07pm
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Post# 24340702
RE:they eill reduce the revolving facility by 100 mil???
RE:they eill reduce the revolving facility by 100 mil???I think the terms are even stiffer than what i thought , there is no sure thing the $100 mill. comes in within 45 days ... that could be the end date for LRE , then they must make desperation sale of best assets by april - forget about selling ng assets . Then comes another desperate sale of best assets ,whatever is left by october . So this company will be left with about 20k boe of ng carrying $300 mill. of debt ,that will not fly with any syndicate if ng price remains sub $3.50 .