RE:Missing a billion?Couple tidbits for you guys here.
The mark to market discount for pre-paying the notes has likely diminished. Also, many of their notes are not callable until April '23 now.
You will likely see substantial cash hoarding and big lump payments in the future.
The revenue you're seeing for '23 is because the Christina Lake assets moves into post-payout status early in the year, meaning royalties ratchet up quite substantially >100$ oil.