they may want to borrow against the in ground Ray reserves for an expanded drilling program (similar to existing CBA arrangement)and that will require an independent estimate!
Its a better option than issuing more shares!
Furthermore, this number then becomes robust and believable for all prospective investors, more than just a would be should be could be Directors B/S figure!
Money well spent IMHO!
Cheers
HC
gf2 flows at 9mmcfpd and 245bcpd, page-14
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