Spyglass Resources Corp SGLRF

The remaining 50% of Dixonville

[tvstock]

if sold for 100 million again, they are basically out of the woods. Am I correct?

[seatleslim]

Probably more accurate to characterize it as some breathing room. Few of these marginal companies are out of the woods if commodity pricing doesn't recover. Though is interesting that the (post opec meeting) renewed lending facility is $200mm. It seems to me that in this market banks would have given no more than 50% on proven reserves (or at least extremely cautious underwriting terms). That

[quesea]

I thought their Hedging was better than most ?

[roscoe74]

If they sell the remaining 50%, they will end up with $95 mm debt and $100 mm credit line

[tvstock]

340million -> 200 million credit limit when they sold the      50% Dixonville + red earth Your preidctions are likely.   *** That 50% produce approx 11.4 million free cash flow at 70 WTI. A reduction in 100m debt with a reduction in cashflow of 11.4 million is not bad. Their current debt/cashflow will drop significantly.  Oil price is around 55 now, but there is a