stockfy wrote: haoke2013, I suggest you stay with facts because you make a lot of hypothetical questions in your post.
CKE has $15 million cash and Zero debt in September 2017, see Sedar, while Stockholder Equity is as high as $104 million.
It will spend maximum $5 million (remaining CapEx) in Q4 for the expansion of the compressor, see the excerpt below, because it has budgeted $10 million and has already spent $4.7 million in the first nine months for the compressor. That's it.
Additionally CKE has already drilled and completed the 4 latest Montney wells, and two of them have already been tied in at restricted rates because the existing compressor runs at full capacity, see the excerpt below. This means No CapEx for new wells in Q4.
As a result, total CapEx for Q4 is not going to exceed $5 million.
Meanwhile, CKE's operating cash flow in Q4 will jump relative to Q3 because current production is 4,700 boepd, Station 2 prices in Q4 have risen significantly relative to Q3 and CKE will exit 2017 at 6,400 boepd (reaffirmed).
So CKE will exit 2017 with
$10 million cash, Zero debt and a significantly increased credit facility of $18 million, according to the latest news:
" Also included in our year to date capital expenditures is $4.7 million for the expansion of our Birley/Umbach facility to 50 mmcf/d. We budgeted $10 million net for the total cost of this expansion in our capital program. Two (1.63 net) of the four (3.63 net) most recently drilled, completed and equipped Birley/Umbach wells are currently on restricted production as our existing 25 mmcf/d facility is producing at maximum capacity. On commissioning of this facility’s expanded capacity to 50 mmcf/d (net 41.76 mmcf/d) expected during the fourth quarter of 2017, these restrictions will be released and our remaining two (2.00 net) standing wells are expected to be brought on-stream bringing our exit production to our 2017 revised guidance of 6,300 – 6,500 boe/d."