How do you know they don't quality for debt? Many spec stocks have debt.
They just need a good CFO to reach out on the market for quality debts.
At the current rate, they are making small loss every quarter however if quarter production reaching 50,000 bopd then they are breaking even.
Currently they are producing 36,000. As long the new well produce around 1000 bopd then they can reach this target easily.
once they generate positive cashflow, Management can acquire more lands for exploration and production. That's how a company would grow right?
How do you know they don't quality for debt? Many spec stocks...
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