even if current well is productive, they still wont have production going anywhere until new gear arrives on site (tank and production lines) and by that stage we could be well into Q4 and they need 400k in Q4 to continue drilling.
Not to mention, they have said they want to explore further deals in similar areas so perhaps they have more farm-ins coming for Q4 2012 or Q1 2013. They will need money.
I do wish they would of waited until after the well results released but then again it could be a sign of bad things with that well I guess :P
SGC Price at posting:
17.5¢ Sentiment: None Disclosure: Held
