TMR: redetermination of their borrowing base on April 30.
From SEC file: "On
April 13, 2009, the Lenders notified us that, as of the effective date of April 30, the borrowing base will be reduced to
$60 million. As of the date hereof, we have outstanding indebtedness of $95 million under the Credit Facility. The
Credit Facility provides that outstanding borrowings in excess of the borrowing base must be repaid within 90 days
after the redetermination, and we do not currently have sufficient cash available to repay the shortfall."
Do you guys have any extra info about where they will get the $35m they need before Thrusday?
Thanks
