GREY:BNKPF - Post by User
Comment by
BrokerGon Mar 20, 2018 10:06am
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Post# 27745697
RE:RE:BNK Petroleum Inc. Announces Annual 2017 Financial Results
RE:RE:BNK Petroleum Inc. Announces Annual 2017 Financial ResultsOverall positive. To answer himmler's question- They used cash to fund three wells along with $5 million in borrowing. Capital expenditures for 2017 were 19.2 million- therefore, they used $10million of cash, $5 million of line of credit and the rest from cash flow. Cash flow and senior debt will now have to finance any new wells.
The netbacks were also positive at over $29.00 [ including contracts]. If we use the netbacks without the contracts we get - $25.40. Therefore, the payback of the new wells is approx. 15 months. That is very positive.