RE:BlackPearl Defers Establishment of Term Loan Facility for Its Onion Lake Thermal Project Due to Volatile Debt Markets
On June 3/2013 they announce that the Company plans to accelerate the development of its thermal enhanced oil recovery (EOR) project at its Onion Lake heavy oil property in Saskatchewan and then on June 25/2013 anounce they will re-evaluate their financing options when capital markets stabilize. Construction of the Onion Lake thermal enhanced oil recovery project will be deferred until alternative financing is established,.
It only took 3 weeks to figure out that the plan was not going to fly,,. Looks like the financial markets are pretty imposible,,.
Where does this Company stack up with current production levels and their developments projects on hold? Can they manage their dept? Are they profitable?