RE: As we get closer to the bond date20 Apr 2021 13:46
Yes in theory but the reality of where we are now after the last RNS declaration of production which is good to creat more fcf but it wouldn’t be enough with the current oil price to pay CB ,working capital ,and to implement expansion and remedies. If you give me an oil price of $80++ pb then we will have a very different conversation!!
As I said before ,I was hoping for higher productivity and not lower ,even with the current oil price, but this didn’t happen.
I believe CA has something under their sleeve and did not agree on the latest CPR . Their latest big buys was carefully executed after the bad CPR for a purpose,and must have solid grounds to gamble of such huge sum. Then when you look at the historical precedent of R Bernstein..one realises he is heading to agitate bod room to make changes and facilitate a takeover.
Only then the CB holders would re assess their position to agree with the new plans for all stakeholders to move forward...
Dilution was an option put forwards by the present bod and hopefully wouldn’t be done as I feel this mob of muppets at the helm would have gone or demoted and every one should be relieved..
Still holding and haven’t sold any but not adding more either...
GL