Carcetti Capital Corp V.CART.H

Balance Sheet Assets at Exit Dec 2021

[nozzpack]

These exclude any consideration or value for RK reserves or any putative value for Staniske.

These two assets have been detailed in the range of their asset value earlier .

But, to get back to the balance sheet at exit Q3 of 2021 and how that will change due to free cash flows in Q4.

Balance Sheet Estimates

As of Sept 30/21, there was $10.99 m US in liabilities.
Kub received $10.9 million US for sale of Eastern Uk assets.

This basically removes all liabilities from the balance sheet.
There were $12.2 m US in assets mostly cash .

Remove $3.7 m US for Eastern Assets that were sold, leaving about $8.5 million as the net assets at Sept/31/21 .

Add 0.9 million US for sale of  CLB assets.
Add $300,000 US for final dividend from Eastern Asssets.
 

So, we would have about  $9.7 million US =  $11.5 million CAD to which we must add free cash flows from Q4.
These have been estimated by me in an earlier post to be $1.42 million US,( $1.8 million cad )  assuming the same production ( 93 boepd ) as Q3

So, at exit Dec of 2021, the balance sheet ...almost all cash .. will be about $13 million or so in cad ( $11.5 m + $1.8 m ) .

Q1 of 2022 will also produce strong free cash flows which I estimate to add about $800,000 US to the balance sheet, again assuming constant RK gas production .

That is, at exit March of 2022, the balance sheet will hold between $14 million and $15 million cad in cash which is close to 5 cents cad per share.

The reserves of RK and any putative value for Staniskve...previously estimated..will add to the balance sheet cash.
 

Maybe $0,14 per share or so..