RE:RE:Canadian InsiderThanks for that Alkhor. He could have exchanged the debt at any time for .3p according to the agreement... or wait till Dec. 30 and be repayed in cash.
That last news release showed just over 8 billion shares in issue, but since the units were issued as one share plus half a warrant... those warrants will be in the money at .26p and above. That will increase outstanding shares to over 9.5 billion.
Noting that this is now trading at 1 cent, market cap might soon be over $95 million. If the acquisition goes through, XOP will be responsible for another $41 million. How do they support
$136 million with what is reported to be 1400 bopd ? Rough numbers... $10 cf/bbl is about $5 million/yr. $40 million debt at 10%/yr is $4 million
Capex required...? New drills, workovers, downtime, processing and transportation.