I don't know if too much is being made of a signed PPSA. The SP may go up but the cash balance will not improve. We still need lots of cash to do anything. Where is it going to come from? With no definite resources sufficiently proven and the SP so low a JV venture partner will only offer peanuts. A takeover offer would be peanuts as well. There is not sufficient evidence there for institutional funding. At the moment I think we are in dire straights. Hate to be pessimistic.
Ann: Invictus Energy Corporate & Operational Update, page-215
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