I’m with you - if I was an interested potential shareholder in...

I’m with you - if I was an interested potential shareholder in this company and read the negativity I’d have second thoughts also.

I don’t understand what the point of it is. Again we are all investors in this company and you would t be if you didn’t believe in it. Start ups don’t always run in a straight line up…. The path is often mixed with good and bad. As long as there is progress there is potential to happier days. And quite frankly the wait is really not that much longer raise or not. If the wells are cheaper say 50% than we are looking at $1.2m USD for the 4 more so likely 1.75m AUD (let’s hope for fed cut) will make them even cheaper. I think I read from another post that we are burning 400k a qtr in salaries. So 1.2m for a year.

my calcs have us around 2.4m in bank.

so $3m required for drilling 5 more wells and 12 mths salaries

so let’s say they raise $2m - 3m ($5m in bank) to do more wells and another year in salaries.

firstly I am sure they will raise it.

secondly I am sure they will raise once September 4 hits or after one more well dug..:

so that might be 500m additional shares and we go to circa 2.5b shares. Not ideal but at daily rev at circa 60k (from my calcs) 5 wells

and a asx multiple at 13 x (avg for asx)

the SP will be 9.5 cents or somewhere around that if it’s 20x multiple which is more likely for a stock such as BNL it will be circa 14 cents

where is the downside???

DYOR! IMO