Your right stock doc , I bought this up with recent chats to the company . Their response was to raise cash [sell more shares] just incase the results weren't substantial . From company reports it cost about 500k per well so x 4 so far = 2 mill . My machine shows 180 mill shares in 1997 and now up to 376 mill , besides exercising of options I'd be very surprised if they needed to raise further funds [sell more shares ] . As 2003 report showed 1 mill in bank plus the 6 mill from recent offering and now more oil sales throughout the year should almost guarantee us a good result for 2004 into 2005 . Churchie and Waggamba wells may be the big driver of the share price if finds are significant . Please note that Wagg has been drilled in the past and I don't reckon they are drilling willy nilly . I'ssss got me fingers crossed . BUT I COULD BE WRONG . cheers ge ps; market depth is a shocker 10 mill on sell side 3.5 on buy to depth of 10
MOS Price at posting:
0.0¢ Sentiment: None Disclosure: Held
