If they can get the share price over 8c by August or maybe nearer 9c they will recieve $54 million from converted options. So there priority going foward will be to do everything in there power to achieve this.
If it appears likely they are not going to reach that target they may raise cash to speed up drilling but I think it would be done from a shareprice nearer 6 or 7 cents. Either way there would be dilution but if it meant getting oil out of the ground faster or aquiring more land then so be it.
If they are producing 2 to 3000 boepd by August which is Quite possible then we will be in clover regardless they may buy shares back.
Cheers Whisky
GGP Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
