old hc back, page-41

Gotcha Auto, and yes they will be short in 12 months if nothing much gets proven.

2 Verts @ $16M + 2 Hzs @ $20 = $72M x 0.35% = $25M

Roughly speaking those 4 wells take us through to Mar '14.

We'll see the cash position end Mar '13 shortly but shoulld be in excess of $7M ($21M end Dec). Overhead runnning $1.2M/Q so call it $5 from this Qtr to end Mar '14.

For my risk assessment, capital appears to be in reach to fund the obligations - the Put Option sees to that.

Now come Mar '14 - we need a good Contingent Resource in play and possibly some 2P Reserves in place. Need to raise maybe same amount again - question what is SP at that poing and is it better to dilute equity holders or dilute asset ownership?

I do agree though it is a challenge to clearly see the downside risk as a holder - and as Gassed points out, none of the past 50 posts would have occurred if the well was not shut-in due to weather and then restarted with "issues" and no explanations.

Gassed - I put a smiley face on it!!!!! Not getting into another stoush with you. You may of course have the usual last word.

It is the Sabbath and it is only money.