Well for one we have 200K USD cash in the bank. Further, we have no confirmation on how we are going to fund the acquisition of the assets from COE. Even with our low cash in the bank were going to need to raise even more capital to fund the drilling program at Tangai 5 in Indonesia thats suppose to be happening late 2021 into early 2022. We're also going to need further substantial cash to further increase the capacity of these assets were buying from COE. The price of oil is trading quite high currently and yet that seems to not be helping us very much. We have a high number of shares on issue, around 3.3 Billion. Given our low share price we could face some dilution to fund these projects and acquisition if the company looks to raise all the capital via a capital raise which seems likely. I think the market is waiting to see how this plays out. How many shares would you need to issue to raise the funds? 1 Billion?
BAS Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
