We are resuming research coverage on Greenfields Petroleum from the FirstEnergy Calgary office. Greenfields is currently in the process of replacing its insolvent partner, Baghlan, and we are under the impression that the process is well advanced. Upon closing of the transaction, we expect Greenfields to be reimbursed in the amount of approximately US$25 mm for costs incurred to fund Baghlan’s interest to continue to advance the project.
06 Oct 2015
The Partner Replacement Process is the First Step toward Repaying Debt and Resuming Production Growth
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The Partner Replacement Process is the First Step toward Repaying Debt and Resuming Production Growth
We are resuming research coverage on Greenfields Petroleum from the FirstEnergy Calgary office. Greenfields is currently in the process of replacing its insolvent partner, Baghlan, and we are under the impression that the process is well advanced. Upon closing of the transaction, we expect Greenfields to be reimbursed in the amount of approximately US$25 mm for costs incurred to fund Baghlan’s interest to continue to advance the project.