Lets look at the facts for 88E 1. They have significant lease...

Lets look at the facts for 88E
1. They have significant lease positions which 'might' have commercially accessable oil
2. They have tax credits due but not 100% sure if/when to be recognised
3. They have some 3D for Yukon but no drilling plan or other related deal
4. They have 3D for western conventional - but details not shared with the market
5. They have IW2 which is shut-in (again)
6. They have an agreement in play to develop and drill 1 well
7. They have limited cash reserves at present to cover beyond current activity
8. There is not a committed and clear plan of where cash will come from

My concern is mostly with point 7 and 8 - cashflow - without secure cashflows it leaves us in a poor negotiating position on any possible farmout, as we become the desperate poor cousin in the negotiation - will lead to having to take anything which is offered.

I would really like the BoD to share more detail on the forward plan for how they are going to keep the company in a strong cashflow position beyond the next 6 months.

In tough times, cash is king.