Not at all as company cannot do a consolidation by only doing 1...

Not at all as company cannot do a consolidation by only doing 1 well a year, especially if they continue with past history of finding dusters. They need positive momentum of multiple successes for this to work. If they could have done this they would have done it under 10 billion. It’s way out of control now and will continue. But benefits us holders as very liquid stock, that’s the irony here with 88 imo.

Also most holders don’t hold so a consolidation is a non issue as most sell prior to TD so won’t get caught holding for another SP collapse and they would have to wait another year before company drills again.

Example they have 20 billion SOI @SP 1c
Min consolidation of 100:1
Leaves 200 million SOI @ SP $1 which will never maintain that price. Comical if they even attempted.

Delivering failures SP would immediately fall sub 1c massive losses for those who hold. Way too risky holding this stock imo.

But if this well finds commercial oil and they don’t wait another year to drill again, as this location is near highway so could drill all year round securing good supplies of oil. So I would wait until they have done 2 quick wells and importantly only weeks apart (need $50 mil) with successes then a consolidation could work.

But for me I will just buy heaps and sell most leading up to TD if I think not going to be a success then follow wire logging and sell completely out hopefully making some good profits. So consolidation isn’t an issue for me. Good luck.