I tend to agree @Plext, however timing is everything. I believe the SPP will go ahead, but not until flow results are out, and it all seems to focus in the next couple of weeks.
Investors are far more likely to participate in a CR if they believe the SP will go up rapidly after the entitlement offer is completed.
Based on previous ones, it'll take around 3 weeks once decided. And... it hasn't been announced that the entitlement offer will be at 0.05; we're basing that figure on Armour's assertion that the retail offer will be similar to the institutional one.
Given good results from our current 3 new wells, plus the reworked ones, who knows, they might put it out at 0.06 or higher. The SP will wallow down to whatever price they decide on sure, but with good results it'll only be a temporary drop before we proceed up with much more working funds.
Best to all for the new year.
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