Chandler In an earlier post I said we need FAR to outline their...

Chandler
In an earlier post I said we need FAR to outline their plan on how they are going to get us to production.
Part of that plan is the budget estimate and the detail of possible financing alternatives and options. FAR must have by now a good idea what they need to do to make this happen.
Drilling more appraisal and exploration wells will lead to capital depletion but as you say FID may well lead to reserve base lending if POO holds up. Reserve based leading instead of CR by dilution is still debt that will have to be repaid so it's a trade off at best.
FAR are a minnow surviving in shark infested waters, until we have a revenue stream we are cannon fodder so let's not get too complacent or over confident until management spell out their plan to stop all the second guessing.
We will soon be facing allot of risk with little upside associated with the enormity of the task ahead to get to production. Yes we have some breathing space to FID but then what, at least half a billion dollars plus of reserve based lending is that your final solution, wish I was that confident.
Mike