why should this go to zero??? I could list 1k lifestyle companies on the asx with hardly any cash and mkt caps (EVs) larger than our ~$30m cash balance!
we have 1bn BOE, min 10% recoverable. in one section, another 2300 sq kms of "potential" to boot, and only stumping 30% of the costs
its AP ive got the issue with. If (in the remote chance) it does go to zero, i take solace in the fact that he had ~236m shares and a loan on some.....and deserves to lose them all based on his "outstanding" performance to date....
reality is, the cashflow (due soon) will tell us how much $$$ for field dev there is. I suspect >~$30m ca$h left....that could be used to develop ~$100m in field capex. more than enough to get the taps on....rest could be modestly debt funded...
or
Sonangol lose their shite with AP and pay us 12c now and politely show AP et al the back door (preferred outcome). I'm sure many on here would take 12c over 3c right now........
