If Flames was to be drilled post July 2022, the coin would have come from Jewell, Rangers cashflow and option conversion . There was always going to be the need for some cash from the option conversion needed to fund Flames, but there never was going to be a separate capital raise for Flames. The options were always basically a quasi CR, and that was well understood.
This " deal" just means more of the coin for an early Flames spud will effectively come from the option money, and more of the cashflow from Jewell, Rangers and Flames will go into the bank account to fund any further wells that will be drilled.
Cheers
Dan
Ann: Trading Halt, page-110
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Last
1.2¢ |
Change
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Mkt cap ! $57.27M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.3¢ | 1.2¢ | $4.16K | 335.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 23 | 15481980 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
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