Ann: Atzam 4 - Project Update , page-9

Today's announcement is very significant for me
I expected negative news or no news at all and was ready to bail if it came, instead it's confirmed all is good with the well, additional commitment to storage and treatment and more news and sales to come in a few days!

They could have dragged this out with pressure problems, flow rate delays ... The usual tripe we have seen on this and other stocks.

IMO this tells me either:

1. The board has changed tact due to SH putting pressure on about the Range deal and are trying to smooth things over for a better deal for us.

Or 2.The board set the deal up when they needed cash knowing if the well was a duster they could rely on range's additional funds to continue operating OR if it flowed +200 bopd SH would disapprove additional holdings and an alternate funding source could be found which is quite achievable with the flow rates so far, in which case it would be very smart move.

Until today there was a 3rd option for me:
The company would be run this into the ground so much that Ranges 1c placement looked like a savior but this looks very unlikely with the news we have been given and there would be some serious questions and accusations will need answering if they backed out of the current sentiment.

I'm hoping its the 2nd - Range wins with (20%), WE WIN and the board are hero's and will have millions of options when they come in the money.

The SP today was disappointing but was to be expected if you have been watching long enough.

I can't see Range trying any T/O soon they have a hell of a lot on their plate and no cash until Texas deal goes through however I do think they will take a shot at it at some stage, they don't have many runs on the board.

I'm not an advisor,ramper or a trader just a bloke sitting in my car waiting for my kids to finish gymnastics who has spent hundreds of hrs reasearching this and I've put money in based on the asset to see it through till the end or near the end?

Very optimistic I am


Please do a bucket load of research please before you buy and don't listen to anyone on HC including me cause opinions are like assholes - everyone's got one & this has been mine.