The company intends to apply the funds from the offer in the following priority:
1 - bulleye - met 2 GH to be drilled in june 2008 - nope 3 North Kettlemeb in july 2008 - nope 4 Acerage rentals - part met. lost 1/2 of acerage along the way! 5 SE lost hills - met then feel apart as usual
REALITY
Management surely had a good idea about the problems with the california acerage and still used the californian hype to get a capital raising over the line???
They have spent $6 million in 1 year and have 5% of two wells.
A pathetic return.
HONESTY AND INTEGRITY RATING
I feel like a fool for ever thinking they intended to use that money to drill california. I cannot rate such blatant manipulation of share holders
QPN Price at posting:
0.7¢ Sentiment: LT Sell Disclosure: Held