how much longer to cr, page-17

There is no doubt IMO that money will be required to finish the second well . I would say there will be an ambitious plan put into action , after testing results , or at the same time as they are released . This will include a third well as soon as possible too . They would require funds in about two months if they can get the 2nd well going that quickly . Not enough time for a CR through a SPP I don't think W we would not start an SPP until testing is done and reported on . It will take ten days from the start of testing to clarify the flows from the lower sections . Further waiting for reserves . So I suggest another CR from institutions .
The point for me here is that the company are now in control of the share price , more so than previous . They can decide how much gas/oil is desirable to make it ' commercial ' and time the CR and further work to their own ends ( in conjunction with GGP of course ) .
This puts out the question of the option money being available if the company wants it or making it a line ball right up till June . One would think the company wants the huge amount on offer and will try to get that asap but so many other co.s let their options drift away in order to satisfy other agenda . I am thinking all the talk of ten cents plus on this drill is unfounded but I could be very wrong . I am thinking a 3.5c rise for reserves and flow from some where around the current pricing would be about right . Further diluted by 20pc after a CR . Bringing the SP to the mid fives or six cents after the dust settles ( bad term no duster here ) . Just guessing here remember .
Leaving the second well to bring home the options bacon .
If there is oil to the tune of 1000bopd or gas flows at say 5mmcfd then we have a flyer and the above pricing is short of the mark . Pretty uneducated guessing here and there will be plenty of people thinking the upside reported on will magically happen on this one well . I may be new and a dummy but I don't expect that for one minute .
Dilution will make the oppies just that bit harder to get into the money . A late charge is surely going to happen via well number two , if this well is commercial , but not a huge earner .