Ann: AuDAX secures $20M Committed Equity Facility, page-16

re: Ann: AuDAX secures $20M Committed Equity ... This $20M ensures they will drill the first well regardless of whether WER can complete the funding or not... I feel this is great news because which minor oil and gas other than central petroleum has been able to secure such a funding? $20M is more than half of their market capitalization, clearly shows that someone has faith in the prospect...

As dexter1 pointed out the major problem will be porosity/permeability of the reservoir, but do note shell did a well kill test and found there to be no evidence of a poor flow.... (More can be found in their technical reports)