Slightly Burningbird, it is odd. We did have enough cash for a little bit previously so just could be some lead time between production and actual payment for sales etc which would make sense, say they did get into production etc this qtr....extremely unlikely obviously....then you would think sales would start in QTR 1 of 2024 and payment for sales probably would have at an absolute minimum 30 days so you would think cash receipts would occur in QTR 2 for the sales.Therefore, if any large capital expenditure is planned i.e the other wells etc then they wouldn't be able to fund it straightaway.
So im working off this assumption which is less of a worry. They would have to completely flop on this current well to be in a dangerous position which i doubt will happen (fricken hope not) cause then they have just completely mislead the market.
Just think they are securing up the cash position currently as it is hard to come by in the market we are dealing in. At this point I dont really think anything on the nose is occurring, they are just useless at getting things done on time.
IMO DYOR
BNL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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