getting out of a hole 101, page-30

Apologies, what I should have said is that I think they are executing a poor strategy (just my opinion), not they are not executing their strategy.

Hypothetical: If they go out and do another 13 wells this month (at $3m per well) that is circa $39m spend. They have $15m cash and lets say they achieve $15m of sales, they would then need to fund the remaining $9m via debt and be left with $0 cash.

That is not going to fly in my eyes. I would think there is a risk of a raise or a big cut back in the program.

Who knows though, I dont know the bank they are using well so maybe they will allow them to borrow the whole spend and let them retain their cash....................