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Gold/Mining/Energy : Big Dog's Boom Boom Room

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CommanderCricket

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JimisJim

To: Elroy who wrote (188338)	1/25/2015 8:33:04 AM
From: Ed Ajootian	3 Recommendations of 206325

MHR -- thanks Elroy, very helpful. So they will have total annual fixed charges (including divs. on the preferred) of $145M or $36M per qtr. and for 3Q they had EBITDAX of $34M. Hopefully the new production they are bringing on (or back on) is going to more than offset the lower oil and gas prices they will be realizing. I hope Gary is not really depending on selling pieces of the pipeline to make this work since there is probably going to be a point in the near future where any potential buyer (including MS) will shy away from buying anything from MHR due to the 1-year look-back rule on pre-bankruptcy transactions. Also, the consequence of selling a cash-flow-generating asset is that your future EBITDAX goes down, putting you more in the hole.

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