Ann: $15m raised to fund Well Test & Cabora Bassa Operations, page-296

ok, but then how are they going to pay for the dozen or so wells that will be needed to fully map and delineate this huge basin and all the “running room” in order to determine the true extent of any exploitable reserves? If not CR, then a farm in JV partner. So that 80% isn’t going to stand up for long.

scott has talked about four wells in the next two years to get a basic idea of what the lease holds. How are they even going to pay for that without at least another four rounds of CRs?

it’s great the future is rosy. I’ve held over two years now and just bought more yesterday. But I see no way out of continued stagnating sp absent an early transfer of a significant ownership % to a JV partner. The sp should not collapse on the news of discovery. There’s a fundamental problem with how this is being financed.