RE: Recent production30 Dec 2025 16:12
Yes any day you’d expect. It is very hard to get robust information now, the boardroom not in great shape. As mentioned, they didn’t default which is good. The lender agreed to the payment break which has allowed a large cash pile to build and this is funding the workover and leaving plenty spare. I’m expecting the new loan will be at much better terms and will encompass 100% of the debt, leaving them with a cash pile, excellent income from the increased flow from March and of course 100% of the American deal. The two elements delaying the funding are clear - awaiting workover requests (Lender may want to see this) and GoA deal.
All ways, things are looking really good now and I am sure there will be a rerating upon relisting. Assuming the wo is a raging success it will be interesting to see the new projections of cashflow and debt repayment plan, I expect it will be transformational.