Your apology will not be accepted here! You're doing great, really.
There's a point or two I would make regarding debt and/or debt financing/refinancing:
The company expects shortly to be self-sustaining. What this comes down to is that through internal operations we may/might expect that soon, capital expenditures will be financed internally(read that: cash flow positive sufficient to carry the company towards profitability without further borrowing, dilution or debt management issues).
When I look over a company's quarterly or annual numbers, the first thing I need to find out is the directional bias evident in its production revelations. There is ALWAYS a bias in evidence, hidden or deliberately exposed. I need to see yoy (year over year) improvement and nothing less. Comparing Q1 of 2013 with Q1 of 2014 is part of it. Seeing reduced debt obligations is surely part of it. But for me, it's all about a diminishing stream of fresh debt being contrasted by increasing cash flow which, once free of historical encumbrances, should become profitable. Strictly on a net-back basis, we're talking about positive cash flow.
Next, I look at bottom line expansion. How much new acreage has been added? What is the nature of associated prospectivity? What is the status of completed seismic? 2-D? 3-D? Infrastructure available to manage new production hoped to come on line?
There's much more but I needn't clog the airways here as I know others have much to say. One thing is for sure: The results so far are truly outstanding, imo. I doubt it will be long before our shares receive the respect due.
We're listening, so speak up, folks!
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