RE:RE:It's a Mad Mad Mad World !!!OilGold1 wrote: Let's hope it's gone in 12 months. The American Hospital Association on the other hand believes that in the next 2 years there will be 96 million Americans that will have contracted Covid-19 and of those 500,000 will have died.
I would be more concerned about millions of people losing their jobs in the Recession and a billion people or more out of work in another Depression..
Coronavirus is nothing but a common flu. It doesn't really affect healthy people and the very young who will recover fully. More people died from common flu each year.
It is funny the Company is still touting the oil is hedged when there is no market for Nigerian oil. No oil, no cash flow. The $66 put hedge is time-sensitive and will expire worthless by year-end. AOI is 28 percent hedged for next year but can no longer afford to put on more hedges as it will cost hundreds of millions due to the volatility of the oil market. The Co. is tapped out with no cash left and expected to take massive impairment charges wiping out its equity balance.
AOI needs to brush off its CCAA protection shelf filing just in case. There is a strong chance that AOI may be forced to file for bankruptcy proceeding due to violations or contravention of its loan covenants.
i wouldn't want to touch AOI with a 100-foot pole as it can go to zero like Lundin's other company RB Energy.