Q4Three things we know looking forward to Q4 are
1. OPEX will be lower
2. No tax payment
3. No debt to pay off
In addition, an extra chunk of revenue was added just after quarter end which I believe is only impacted by selling and administrative expenses.
The Q3 overview at the website shows average OPEX of US$26.4 per bbl and a total of US$150 million OPEX to date as well as CAPEX of US$105 million to date.
Guidance calls for another US$50 million OPEX (lower end) and US$45 million CAPEX (lower end) which totals to approximately the same as Q3 numbers. Could be less as indications point to lower CAPEX for the year.
That said, assuming a similar quarter in EBITDAX and CAPEX, an extra US$29 million plus US$12 million that paid off tax and debt should be cash in the bank in Q4. Roughly another US$40 million. Add the extra revenue less selling and admin expense that was not recorded in Q3... at least US$60 million more in total.
Looks to me that the company will exit 2023 with more than US$150 million cash. Was hoping for CA$200 million, might just make it. Remains to be seen.
Bottom line, cash position keeps building and more production is planned.
Not worried.