True.
Less than $2.0 million in the bank and market cap of $16.m -- to sink a well cost more than $50 m.
The prospect is very attractive but is not proven, definitely not in a good position to negotiate, if Noel is unrealistic, nothing will happen.
Why would the big boy stump up the money upfront (could be a dud as well) and get a percentage of the venture, instead of acquire 100 % of TDO shares (even pay a 100% premium say at $.14 a share -- $33 m offer) and get 100% of the spoil if successful with the gas find.
Hmmm...., page-8
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7.9¢ |
Change
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Mkt cap ! $26.18M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 8.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.2¢ | 200000 | 1 |
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