placement, page-47

Spot on Brix. Their Dec qtrly said it clearly.

Cash on hand: $8.877mil
Cash out in Q1-'12: $8.035mil

Frac'ing/ testing is not cheap.

So, once they raise sufficient funds, they can go & frac more wells & increase the cumulative production rates :))

Hey, there r companies producing 3000 bopd from a single well & then there r those that do the same at 30-200 bopd, albiet from multiple wells.

Is a win-win scenario, nothing wrong with the fundamentals. One needs cash to keep delivering the results & a steady cashflow from the flowrates.