02-14-2016, 05:16 AM
Please understand we an apples and oranges story on expenses . The Apple is overhead expenses that can be cut and Hession stated he could cut enough to not tap the credit line before the Total payment arrived . If one looks back over the almost 3 years this team has been making expense forecasts they have beat their estimates every quarter. No reason to see why that pattern wound now change . Therefore expect on this next call to see a number within guidance , or non use of the credit line , they have the right to update us on the next call. The Orange is a seperate category pre works on the LNG project required by Total. Hession on the last call did not mention this item pre Total payment so it's hard to think we get those expenses pre Total check. Once again the company can update us on this next call. Or this is a minor thing at best and so far management had been within forecast . To take a Grand Canyon leap and assume this quarter will be the first they miss has no basis in history , we wait .