RE:in at 0.09 chef Boy I too am a holder of PPR, and I am also optimistic about the sP. But let's be realistic.
Eliminating $120 million in debt in two quarters is NEVER going to happen. First, 1/2 of their production is hedged at between $40 and $60 per bbl. That will likely allow them to have cash flow in the $4 million range. Higher oil price might give them another $2 to $3 million in flow from the unhedged oil. That gives them $6 to $7 million in cf. Deduct from this the financing cost of 2.5 to $3 million and you are left with $3.5 to 4 million. From this you have decommissions obligations and capital cost of new drilling to maintain or increase production. That doesn't leave much for debt reduction. I'm hoping for 30 to 40 cent SP, unless we get some type of settlement from the NAFTA case, hopefully $50 million plus. That could change everything significantly, and perhaps make $1.00 per share possible, but there is no certainty that we receive anything from the case.