Posty,
If the Phase 1 rig hadn't been delayed by rain then Phase 1 would be complete by now. At about $5M a well, 5 wells done, we would have $5M left in the bank (due to JVs not paying up).
The Phase 2 rig is being hired for MULTIPLE DRILLS. How could the company do that if they could only afford to pay for one well?
For the company to commit to the complete phase 2 they needed more money. You continue to dispute this but refuse to justify it with figures. Please, show me your maths and I might see your side of the arguement.
Karl
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