where is potts?, page-17

I recall a couple of years back when the NWE management said they had enough capital (IIRC it was under 2m) and then 6 weeks later, they raised capital.



Potts,

they will need more capital or they will farm-out part of their their 27% stake in EP413. There's no way around it. Sooner or later, they are going to need to fund their share of the horizontal.

If they end up with 15-20% of EP413 after a farm-out, that will have been a good result IMO. Better to dilute one permit than the entire company.

THis isn't being negative. It's reality.
I am at a loss as to how you think they can realistically avoid the above options.

Bank debt is highly unlikely. The company seems to acknowledge this themselves as they are openly seeking partners to develop the asset.