Flow tests are an interesting topic - I'm assuming they aren't going to frac Vali2 until the point of connection...so we've got a bit of a mystery bag situation? It's all looking fantastic aside from the funding. I'm content that they've got enough to complete this drilling campaign; but the next move will be company defining. Will be interesting to see how left field they will go. Cap raise is the traditional option; but a pre-payment of gas sales or an upfront amount for farming out the other tenement in exchange for retaining all drilling costs? Time will tell, but so far so good with drilling!
MEL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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