I don't expect Q1 to be too bad
Even though I expect the company to have a bad Q1, I don't think it will be a disaster.
The problem in all of this, is when will NG prices rise to the point where the company makes money, and what condition will the company be in then?
I still find it amazing that the bank did not pull the credit line. If NG prices go no where for a few years, the line will get drawn down over time, and then the bank will be stuck with a mess.
People usually do not go into a bank to get a loan with the line 'I just need a few billion to tide me over until I can earn a little more money'. But that is what we are seeing here.
Louis J. Desy Jr.
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