That possibility won't evaporate even with a discovery.
Fact is IF IVZ drill a duster the sp will be whacked big time and the new lease area will be tarred with that brush....BUT IF they were to make a discovery the new extra lease area will be very valuable.
Our MC is ~ 130 million.
Raising 35 million would be well and truly within the companies reach.
Any farm in now for 25% WI would need to be valued at 32.5 million....basically 100% of drilling costs.
I can't see that happening.
The higher our MC the less likely a farm in is IMO as the see through value climbs with it and anything much less will be viewed dimly by the market.
I suspect there are those sitting on the fence waiting for either a farm in, which would likely be for less than value of 25% WI, we saw how the market reacted to that last time, or waiting for a CR.
The left field event could be a cornerstone investor.
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Last
8.8¢ |
Change
0.001(1.15%) |
Mkt cap ! $124.7M |
Open | High | Low | Value | Volume |
8.6¢ | 8.8¢ | 8.4¢ | $260.8K | 3.052M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 203629 | 8.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.8¢ | 49588 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 203629 | 0.085 |
5 | 208310 | 0.084 |
6 | 595421 | 0.083 |
4 | 412412 | 0.082 |
5 | 284704 | 0.081 |
Price($) | Vol. | No. |
---|---|---|
0.088 | 49588 | 1 |
0.089 | 49330 | 1 |
0.092 | 161992 | 1 |
0.093 | 50000 | 1 |
0.094 | 273128 | 3 |
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