GREY:LSTMF - Post by User
Comment by
d_trumpon May 05, 2016 9:50pm
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Post# 24846687
RE:Conference Call
RE:Conference CallLTS is finished. More than half of their Q1 revenue was spent on interest. They were -10M cash flow and they are only guiding to break even cash flow in Q2 with $45 oil. With 1.6B in debt, and no cash flow, they have nothing for capex, so their production will be dropping 5% per quarter. The only hope for shareholders is an asset sale by June 15 because any debt restructuring deal will wipe out common shareholders (similar to PRE). $50 oil is not enough to save LTS, they are in such a deep hole, they need $60+ in a hurry. An asset sale would buy them a little more time.