Question-and-Answer Session
[Operator Instructions]. Your first question is from the line of Paul Sankey of Deutsche Bank. Please proceed.
Paul Sankey - Deutsche Bank Securities
Hi, good morning gentlemen.
Paul L. Foster - President and Chief Executive Officer
Good morning
Paul Sankey - Deutsche Bank Securities
Paul, you mentioned in your notes and you said that you're pleased that you got the support from your lenders, was that a preemptive support if you were to miss covenants in Q2, or is there going to have to be further negotiation on the potential for covenants to be missed in this quarter?
Paul L. Foster - President and Chief Executive Officer
Well, we can't really speculate as to how we are going to come out for the quarter Paul, but the way that our prolonged [ph] covenants and our debt covenants work is it's a quarterly test at the end of each quarter. And we are looking at a number of different alternatives and options to make sure that that we continue to be in compliance with everything and that we're well positioned for the future.
Paul Sankey - Deutsche Bank Securities
But I guess it's going to be quite clear to you relatively early this quarter, whether or not you going to make it given the roll off of this very strong 2Q of last year and towards so much weaker environment, would it be assumed that you are going to act preemptively before the end of the quarter, if need be?
Paul L. Foster - President and Chief Executive Officer
Well, I don't know if I would word it that way but yes, you can assume that we're taking steps to do everything we need to do to make sure that, that we don't have any issues
Paul Sankey - Deutsche Bank Securities
Okay, and if you could just briefly outline your relative preference. I mean you've mentioned in the Q quite clearly the potential either for more borrowing, or I guess equity, or perhaps even you guess the White Nile, I just wondered if you could to the extent and I understand that it is difficult to answer these questions, but to the extent you could, if you could just go through those options, how you see them, thanks?
Paul L. Foster - President and Chief Executive Officer
Yes, our focus really Paul is on reaching a solution that enhances our overall flexibility for the long term and we're not just looking at the short term and so we're looking at a number of different alternatives and trying to look at what the best structure and the best position is for us to be long term as we move forward.
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