Post by
profess on Sep 14, 2013 1:12pm
No Financing Required
Their stated intention of disposing DM2 will take care of the debenture overhang IMO.
The dramatic rise in the SP over the past week is evidence that they are close to finalizing a deal.
I wouldn't be surprised if a sale of the whole company is in the works.
With the DB's gone, the 160 million of bank debt will be easily managed with funds from operations.
Ethel is just starting to kick in. They drill / convert a few more injectors, infrastructure is already in place. Strong oil prices and dropping costs across the board - I don't know what you guys are talking about distressed sales and equity financings? Ain't gonna happen!
The stock will continue to move up IMHO.