The market knows that the casing needed repair. It hasn’t been announced that it has been repaired. So nothing to report. Plus they reported that they’ve decided to frac SS-3H later with the other 3 new wells to maximise efficiency.
So the problem was lack of 2 x 18+ mmcfd data to raise funds. But the PIPE sorted that out.
Perhaps if they waited for the SS-2H flow data then the PIPE could have been less dilutive. But perhaps not, esp as it’s not 10,000 ft. Why risk Phase 1 and the whole plan? Take the certainty of funding and move on. Time is ticking. Now we can get on with the rest of the plan rather than wait for data and capital.
Onwards. Funding secured. Now the team has to deliver. No excuses.
TBN Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)