Re: Conference Call Summary? Was overseas
Dmitri and Mr. Armstrong repeated several times that it would be beneficial to have Delta on board.
Because of Dmitri's heavy accent, it was tough to listen to the conference call.
Did anyone understand Dmitri's reply to the 1st caller (Canacord analyst). Was he telling us that the 1st principle payment could be made to the bank (about $40 million required in March 2016) if we take the PP Delta money plus the "restricted cash" and free cashflow?
A lot less money will be spent on Cap Ex. this year.
Disappointingly, not much was said about ramping up production of UMU or the Shell field.
Bottom line, we need oil prices to move up close to $60...but if that happens, I think the company is worth more than 35 cents.