• A further investment of C$30 million could build the pipeline...

• A further investment of C$30 million could build the pipeline and drill three additional wells.
• Calima could be producing ~5,000 boe/d(1) from five wells by early 2020.

It would be nice if they can transact without having to do any further drilling or site development work. But if it cannot be avoided, I hope they can do it without causing any further dilution. I remember when they raised $25m capital in August last year, they also had a provision in it for a debt facility of an additional $40m. I hope that facility is still there.