RE: SP30 May 2017 11:42
Our financial position remains strong with US$146.5 million of cash and cash equivalents as at 31 December 2016
As at 25 April 2017 our cash balance amounted to US$144.1 million. (where’s the cash generated in 4 months on 10k bopd gone, oil was $54pb)
Exillon Energy plc ("Exillon Energy") (EXI.LN), an independent oil producer with assets in two oil-rich regions of northern Russia, Timan-Pechora and West Siberia, announces the signing on 7 April 2017 by its Russian subsidiary, Kayum Neft CJSC ("Kayum Neft") of facility agreements (the "Facility Agreements"), under which Kayum Neft will borrow from Gazprombank (joint-stock company) ("GPB") the aggregate principal amount of up to USD 206,000,000. The proceeds of the loans will be used for general corporate purposes.
On 10 April 2017 Exillon Energy entered into a deed of guarantee (the "Guarantee") with GPB to guarantee and secure Kayum Neft's obligations under the Facility Agreements.
So potentially $350m in cash with $75m as operational expenses in 2016 what are they planning to do?
where is the report on payments to governments gone and why have II been selling off last 6 months, ownership is poor by II anyway, very odd indeed.