RE:Cash flow for Payroll
Why on earth would PNE spend more money to drill into a basin that is already awash in gas??
Alberta’s AECO price has averaged approximately $0.39/GJ so far in June, compared to US$2.34/mmbtu on the NYMEX, according to the Daily Oil Bulletin.
I cant imagine spewing good money after bad makes any sense on a CF or NPV basis. Keep the money and pay the employees for one more month.
Sad situation.