01-22-2014, 05:32 AM
Reported this AM from a chit chat
Minority Interest-Buyout will be for cash,
How?-IOC has $70 million cash on hand, the $250 milion loan can be extended, plus the receipt of the $613.
Hession has generated credibily amongst the lenders and thus the new loan terms.
They will have plenty of money to drill and pay off the minority interest.
Heres more detail on the drilling, at least 8 wells next 12-15 months
4-delineation wells,3 in PRL 15 paid by Total and 1 in Triceratops paid by Interoil
4-Exploration wells.3 paid for by Interoil and 1 in PRL 15 well paid for Total.
Chances of finding another basin like E/A are large based on the history of the Oil and NG business.
