GREY:MKRYF - Post by User
Post by
naga00on Jun 14, 2017 12:03pm
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Post# 26361674
crazy don't get so crazy yet
crazy don't get so crazy yetLook we all know that Mass is a mess. We are all buried by his strategy to date. It is all not his fault but the price of crude so the blame is not totally his. He has growth the company via cheap assets it is assumed.
You talk about 24 million unfunded drilling . Well this has to be completed by Aug 2018 - a small point you did not express in your post.
We only have 8 million unfunded by Dec 2018 Now if you figure that we are produce 4000 boepd at an average price of say 45 wti do the math- that is roughly $5.4 mil WTI US/month X7 months that is gross $37.8 million US funds- Even with all the interest expense, G&A , upgrades and completions cost then company should easily be able to fund the $8 million in drilling cost.
I assume that maybe there are issue with the 2 well. The oil business is always a problem.
i think the worse case scenario is if the real book is .80+ canadian - The company could easily be sold at a firesale for .40 even .35
It is not a total panic.Look around every oil and gas company has survival issues don't just blame the jockey but the whole industry