There are a lot of options, but it puts $16M in the tin which funds the drilling program going forwards - and maybe allows it to even accelerate the program. We will have 5 wells online by Christmas.
By Q2 next year the share price will be several times what it is now - with limited downside from here. No debt and not hedged at a lower oil price - looks like it's the best little oil stock to be in at the moment. They might hedge at over $100/bbl after the next two wells come on line just to book profits effectively. These guys are in the box seat when you look at the revenue increase and low overheads compared with bigger oil companies.
Banter and General Comments .. BRK, page-3974
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