OTCPK:MAUXF - Post by User
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QUANTUMJUMPon Mar 07, 2016 9:16am
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Post# 24629050
13% gain short term available
13% gain short term available A material part of current and future field production to the end of 2017 is covered by an oil price hedge at $95 per barrel. The hedge is paid on approximately 40% of the production for 2016 and 2017. Additionally, while the Company is paying back its transaction debt, it will receive an enhanced cash sweep of a minimum of 65% from Martwestern’s share of OML 18 production to ensure a particular minimum level of investment return. Together, these factors significantly de-risk project performance for San Leon and creditors, and incentivise the development of OML 18.