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Re: The new TD Report on IonaOverall it's a relatively fair analysis... Truth once again...you've started typing before you put any thought into your post! Be objective or you're going to come off looking like an idiot...Crude was well over $100/bbl, Huntington was producing at higher levels, and debt covenants were not breached....so think about it. That said, there are a few things to point out with the TD report.... The analyst obviously did a quick n' dirty update from his previous posts, thus probably didn't put a lot of consideration into Iain and Tom's plan...Notice that poor proof-reading and over-stating production by 10,000 BOEPD (even though his ultimate WI figure is correct) I think we can all agree Iona has to move beyond status quo to truly move ahead...the current assets and required capex certainly ties our hands to a significant degree... Although Tom and Iain are attempting to get an additional portion of Orando farmed out, it's certainly not the only option... In the last 6 months their have been a significant number of properties that have been put on the block as either an exit strategy of a divestment of acquired assets through takeovers. The desire of Iona mgmt. is to make an out-right acquisition through an RBL and thus cut debt servicing almost in half... Time will tell.. T2 |
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Msg # | Subject | Author | Recs | Date Posted |
14763 | Re: The new TD Report on Iona | Toxie | 3 | 4/16/2015 10:06:11 PM |