The SP will have to increase a lot before Wilson HTM take up their option and underwriting of the OB's. The present position is subject to Market conditions being satisfactory, due diligence, and negotiation of a formal underwriting agreement. A 10c. option is not even in the ball park when the SP is 4c. and only 2 months left to make up ground. The companys delays really hurt as eg. on the 13th. of the month ann. that a well would be spudded by the middle of the month and we are into the next month still no spudding. I just don't understand how a company cannot give us more accurate information as I expected that spudding would have occured by now. Where is the money coming from to drill the 3rd. & 4th well in the present programme announced if they don't get the money from the OB's. All I ask for from management (I hold shares and therefore part own the co.) is a little bit more accurate ann's and info.
TEX Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
