renewal, page-8

nice commentary guys.

the fact the company is not scrambling for new projects or resurrecting old ones or raising any capital just yet is a good sign on two levels (notwithstanding capital preservation).

firstly, it suggests the company is quietly confident the EPLs will in fact be renewed. if the company was not confident it would be looking at new projects and or raising additional capital.

secondly and perhaps even more importantly, it also suggests the company believes the Mile 72 Project is a company maker and therefore there is no need to look at other opportunities, and the results of the follow up exploration work will be promising enough to be able to raise capital at higher prices.

as frustrating as the delay is, if you read between the lines there are strong grounds to believe there is a pot of gold at the end of this rainbow. we just have to weather the storm.