Upcoming JRI-Invictus Webinar Questions, page-450

Yet it should have been except for tool failure which is completely attribute to BH.

Yes and that was the point I was making.
If everyone wants a discovery booked then why 3D?
IF it were the absolute priority they would have raised the dough and got about drilling.
I believe that SM, rightly or wrongly, has his long term glasses on.
IF we raised 20 million at 10c another 200 million shares but if that meant booking a discovery the sp would be 50c+ in all likely hood. A 20% dilution with a potential 300% sp increase.
Even if the sp fell back by half we would still be, as shareholders, in a much better position to
a. Do a farm in deal, both having booked a discovery, having a second well and a bigger MC.
b. Raise more cash to drill with less dilution in future.
I don't subscribe to the idea that any farm in would pay overs based on our current MC.
So we either go in to a protracted period of not much happening 6 months+, which could see the sp crater, or we book a discovery.
As a shareholder I want discovery yesterday.....I'm not sure at all SM is on that page.