roosevelt sale, page-12

This is good news imo.

Yes the company has lost money on the Roosevelt project - if I remember correctly Roosevelt has cost around $25M so selling it off for $13M is a 50% loss.

But its important because what the company needs right now is cash to kickstart the company's next phase of existence and that begins with completing its Nth Stockyard drilling, and the Fed Bluff and Prairie South. This deal removes a significant chunk of cashflow and dilution risk imo - hence its a good deal. I expect there could still be some further placement, but this chunk of cash inflow will help minimise it imo.

I'm now changing my sentiment back to buy for the 1st time since the RI was announced several months ago.

Well done Terry.

Cheers, Sharks.