Letechi, they did a CR at start of July, 5M shares at 5c each. Raised $280K which will carry them thru the next few months. looks like the co needs this to be successful otherwise they will indeed need to do CR just to continue with their ongoing program's. I had a read of co anncs over the last 18 months. they have other permits but need JV parties to help with funding drilling costs for planned wells, so i huess, regardless of the outcome of this, they need to raise cashin the future but if this well is successful, at high output like nearby reports of 4K bopd, this would take care of funding for the foreseeable future, maybe one CR on the back of this well (if successful) just to get some funds behind them if the sp heads higher. allimho.find out soon. If its not successful then back to 5 to 7 cents?
SGC Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
