At last quarter report CHK had $2.7M plus $1M from conversion option. During previous quarter spent over 2M I guess on drilling expense at horse well. Let say CHK has $3.5M so I think won't need to raise capital until end of year. Give them time to see results from horse well exploration. In end if Horse Well unsuccessfully then it pretty much all over here. Talking about share on issue at this end of market it not uncommon have billion shares on issue. Take look at PCL 8 billion share on issue for example. I'm optimistic that CHK will hit decent targets, BHP OAK Dam right on border.
Ann: Major Mineralised fault zone target for Horse Well Drilling, page-28
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