Alexei ii great analysis. Makes it easy to calculate how much we will contribute for every 10 million raised.
I have some background in mining and a litle in o&G but not sure how many wells they would need to feel comfortable before commissioning the processing plant. If they do a cap raise they may decide to raise funds for the next 2 wells as indicated, plus further drilling and the processing plant. It could add up to a reasonable sum.
The biggest thing in our favour is that any cap raise will be after the next well and we all expect some rerating from that.
Regardless, I will find the $ to take up any rights.
NWE Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held