Ann: 2023 AGM Webinar Recording, page-7

I think what he is saying the venture is too risky for any one entity to stump up with say $50m for four wells. So they have to determine a multitude of ways to attract a number of smaller parties with smaller parcels of funds. It alway amuses me that ATS never mention what it cost per well (or part thereof) for their 6 (3.5 successful) well project. It is a nice metric they use BBLS/1000FT lets see the $well cost per 100bbl produced!!! Compare that to the more established and reliable producing fields. That will shock you. You can make numbers dance for you!