Will be used to pay eroton's loan and all their other undertakings profit is what is left after this and tax taken out.
The $68 million and whatever since has been accuring and for sle to have guarantees from all involved and legally binding it looks ok and only payments as sle state by end of 2016 will end this confrontation between holders and company bashers.
But as I have posted only the known company badgers seem to have a problem with anything sle but think genuine shareholders should take them seriously.
You seem to have a problem here then Sid so instead of working up a steam why not ask sle themselves, I'm sure they will then tell you if your genuine which I doubt. But for genuine holders knowing that the income generated was for 6 months not a year as eroton only took over from shell march 2015.
The lenders must be ok with what is being paid back so no worries unless your here for the smear which by your history and problems with sle management in the past you are!.
Production has increased by 100% since December from those figures given, so seeing that all involved from the sle camp would have gone over this with a very fine tooth brush! Including tosca then I can't see any problems, seems only sid&Sons do have the problem here making you look very suspiciously not the genuine article!
But I think your over looking something here that is if eroton revenue was $185million then whatever the figure is regarding rbl and dsra is taken out of that and the profit obviously is what is left from all undertakings and available to sle starting from end of 2016.
"Payments from BidCo commencing at end of 2016 and paying quarterly "
The funding and acquisition mechanism provides the Company with protect via the existing hedging arrangements, which are currently at a strike of ~$95/bbl less costs of ~$3/bbl, with ~6mm bbl existing under contract.
6mm bbl existing under contract @ $91.50= mega $$$millions to eroton!!..
Eroton will be 50% owned by Martwestern (100% owned by BidCo)
Martwestern is entitled to a 90% share of distributions
eroton..2015 Revenue US $184.4 million*, 2015 Profit after tax US $65.7 million*
*Revenue and profit generated includes income from $95 per barrel hedge *Eroton Audited Financial Statements 31 December 2015
SLE receives preferential payment on US$173 million BidCo issued notes and interest
Payments from BidCo commencing at end of 2016 and paying quarterly
Tim, by making responses such as this instead of answering a perfectly normal question that most pi's will want to know. You bring into doubt the abilities of your own frontal lobe......Why didn't you just say brainless then everyone could immediately appreciate what a rude and pointless reply that was.
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