GREY:CEQXF - Post by User
Post by
exprohibition18on Jul 27, 2018 10:31am
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Post# 28376805
If we can carry 60MM of debt we set value of our equity
If we can carry 60MM of debt we set value of our equity
11-14 well is back online soon if not already. Not sure what our oily side is precisely today .But ex-11-14 was 2300 boe/day.
Total corporate oil and liquids production for the week ending June 24, 2018, was 2,300 bbl/d or 34% of the Company’s 6,800 boe/d for the same period. The strong liquids production during the period was achieved in spite of Cequence’s 50% well located at 11-14 being off production since late May for temporary operational issues. The 11-14 well is expected to be back online in July."
If close to 2800 say, the oil alone - valuing absolutely zero for our midstream and zero for all ng-
is about 20-25K Cad /flowing bbl of credit required to fully extinguish CPPIB forever and ever. This level of debt is defensibly way below what I have seen .
If we can privately carry 60MM of debt- say 8% coupon with 50 cents warrants- . We dont need any bankers anymore and there would be zero reason for us to continue to trade at such ridiculous metrics. Game over for discount / haircuts/etc.
If syndicate for whatever reason elects to fully exit, then private raise is the logical response.
Count me in .