Ann: Borba Prospective Resource and Operations Update, page-441

Almost feel certain that this is the plan that is in place. Drill Borba 1-7, and if the results are half decent do a small capital raise, skid the rig and drill another well immediately to start to unlock the Borba multi TCF value.

The shareprice should have a good spike with the Borba drilling results which would be a perfect time for a capital raise. They wouldn't need a big capital raise either as the rig is already on site, just needs to towed. Note that GJ says "skid the rig to drill further wells upon success". Potentially not one but multiple wells that they keep drilling if the good results keep coming in.

There is a very big prize at the Borba Prospect that they are trying to unlock - BI was the first to say that it could even be up to 16 TCF.

https://hotcopper.com.au/threads/an...5430096/page-14?post_id=45039715#.YDBF7E8_WDY

"The Borba well is the logical next step in evaluating the world class potential of the older sediments in the Sacramento Basin. There is plenty of room on the well site to skid the rig to drill further wells upon success.”