Hey mate, I'll tell you what.....
He could not have raised all the required capital in May as the plan was never to go solo into drill.
Contrary to the spin about the potential benefits of holding 80% into drill, it was not a risk the company wanted to take. They had no choice. Point #4 in last ann about fund raising was the MAJOR reason this CR happened.
And yes, smart money don't gamble with their money so they don't go broke. They will derisk most of the time. It doesn't matter if you're prospecting for 200M TCF. Seismic don't mean jack until the drill confirms it.
The management confidence talk is one of the most annoying I find on this thread. Unprecedented ignorance if you ask me.
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Open | High | Low | Value | Volume |
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1 | 150000 | 0.067 |
6 | 376496 | 0.066 |
5 | 893384 | 0.065 |
1 | 100999 | 0.064 |
Price($) | Vol. | No. |
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0.070 | 494994 | 5 |
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