Less the 10MMUS (per za603) debt leaves about 11mm-12mmUS in the bank less some legal expenses and some operating expenses leaves about 11mm-12mm CDN in the bank. We are all close in our calcs. And bow less the cost of this 2st deep and deepening well!!
This is a bit like selling your house when it is being used for collateral on a loan .You sell your house for 22 million but hoped to get 36 million to cover debt.Well even in finance 101 doesnt leave free cash flow.It all boils down to 1 thing do they hit payback in this drilling.Good luck We gonna need it.Down volume and down price doesnt look good from my view.
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