The 40.55 million shares to the Sophisticates imo will be over subscribed, it's a no brainer. The second development well is going to increase our revenue, 37 cents is a bargain, the Chernetska well must be ready to commence, and with one or more potential acquisitions in the pipeline I think it's a positive for HOG.
I don't think management are just pulling salary sitting in the office drinking coffee, eating Tim-Tams and playing Russian roulette all day. With $18 million HOG would be well cashed-up to fast-track these programs.
To have three wells going on the Sorochynska licence, I think one would be looking with much more then 37 cents a share by the end of this year.
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