AXP 0.00% 0.2¢ axp energy limited

Only way out of this cash hungry mess is a JV with deep...

  1. 35,472 Posts.
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    Only way out of this cash hungry mess is a JV with deep pockets.
    This thing needs at least $20-30m to get the ball rolling and cashflow to any meaningful level to self fund the constant drilling/completion vs costs.
    No-one is going to debt fund this to the level they need with the history

    Last time they had a chance with EFS, they took a 70% haircut for a 30% cut free carried.
    Trouble is, the fine print was the partner recovered all their capital before AKK got a dime.....which unfortunately they didn't, and that was looking good with 1000 BO IP per well. Not 44 + gas

    After AV is finished and paid for, there is not enough cash for G&A AND another well next Q.

    SonofMan hasn't got a clue, writes "just wait n see" with absolutely ZERO substance.


 
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