The addition to the unrestricted cash position will help if they haven't gone on another cash spending spree in Q1.
Since 1 well was drilled even though iy was a dud.They will likely show ~ $15M in restricted cash that covers the obligation to drill 3 more exploration wells by nov 2017 or forfeit part or all of the remaining restricted cash.
3 liftings for the qtr of ~ 700K bbls each will give investors increased confidence in the company.
Looks like they are going to go to 3 liftings as I suggested to show investors the money and prove there is a return on investment for mega millions they have been in capex.
To the outside observer it almost appears as if this mngt team is intentionally trying to put the company into a cash critical position in 2016.
Its nothing short of sheer stupidity on mngt's part to choose to spend down your cash position when there is now only minimal cash being generated from operations.
Hopefully its not going to take a depleted cash position before they are forced to stop their aggressive spending plans.
Its not going anywhere but down to flat at best until oil prices move higher and mngt stops recklessly spending down their cash balance during these lean times.
How else could an incompetent bumbling socialist like obama ever get elected with out the votes from the massive base of government aid leeches?
Of course there are far too many unworthy pathetic leeches out there today on some form of government aid that will vote for who ever will give them the most free stuff for such a candidate to succeed.
Everything is gone..Abolish welfare,food stamps,medicare,medicaid,social security,healthcare assistance,disability.
Where there is no longer any form of government aid.
People now getting their free ride through life as a leech will either go back to work if they can and start supporting themselves .All others than can not or will not start supporting themselves will simply perish.
This carrying on the backs of the worthy of the weak,the unhealthy and the unworthy has allowed this undesirable segment of the population to get out of control..
Bring back the days once again when if you couldn't or wouldn't support yourself then you simply perished as it was mean't to be..
The masses of people that need or want someone else to support them for their entire lives has reached epic proportions under obama's form of socialism and needs to be reversed as quickly as possible.
That goes for the elderly population as well.They've lived their lives and their lives are over.Allow them to pass on when they are no longer healthy enough to support themselves.Instead of allowing them to become a heavy burden upon the younger healthier population to support them.
Completely do away with the extensive and costly healthcare apparatus that we have today.If some becomes sick and can not recover on their own then allow them to quickly pass away..Making room for the the healthy and self reliant to prosper without having to support the unhealthy/unworthy for the rest of their lives.