Oilexco had long term contracts for rigs that required lots of cash to support.
slg needs some money to get buy till breagh comes online.
Off the top of my head here....
If we value the remainder of Cladhan by the portion that they sold
Cladhan is worth $90M
They need $40M+
Someone could loan slg money against Cladhan
They could give Cladhan away for the money they need. (but hopefully not)
Breagh is the story. slg just has to get to production.
I propose the question: What is the value the market would give for $100M+ net per year in $/share?