Bonterra Energy Corp T.BNE

Debenture Issue

[TheRexmember]

Another smart deal

About 2% cheaper than similar sized companies have been able to arrange. Also saves about 2% on the existing second lien. 

removes the fall debenture refinancing overhang

stretches out the amortization of the existing second lien while incorporating the debentures 

maintains the credit line structure 

maybe a little tuck in acquisition is coming?

[cybernet]

I hope not... pay down the debt and start a decent dividend.

[Lurkzies]

I'd be fine with a small purchase. But only if they release a clear plan of dividend in 6 months. Like they have the income. And they now have 135m debt locked in, so if maintaining that and acquisitions and divies are the goal then they can do both. But they need to make it clear, with specific timelines. obviously this excludes any major potential terifs. My guess is they locked in the

[TheRexmember]

I want a small divvy AND a small ncib too. With a little uptick in oil prices and the right price on the acquisition we should be able to do all 3. Especially since acquisition prices are so cheap.    he is using a range of 135 to 145 million or .8  debt/ cash flow so there is flexibility.  The term structure tells me they are going to let the amortization take care of

[Lurkzies]

New deck coming in the next few days. I bet clear language on divy, and 2024 looking closer to 150 - 160 net debt... any thoughts on changes?

[TheRexmember]

Can never be sure what price they receive on oil when it bounces so quickly but Q1 should see a big drop in net debt after a smaller one in Q4 based on the drilling plan alone.  Facility and egress expansion in Charlie lake maybe some production upside there. gas at least stable.  Sounds like LNG Canada is slipping on the in service date though.  Of all the bargains in