What CR? Just let the gas flows and sell it. I thought STX...

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Fast&furious

615 Posts.

128

11/09/19

21:04

Post #: 40388570
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Originally posted by Dollar@nearly51: ↑

My preferred option is to avoid a CR altogether.... plain and simple but I don’t think it is that easy...unless a third party is keen to take a position sooner rather than later. Whatever options WGO choose to move their 50% of the project forward an element of working Capital will be required.... Perhaps the Directors themselves will provide the necessary working Capital in the form of loans ? A CR is not the only option.

At the moment we have a staggering Gas Discovery which unfortunately at this point in time is NOT a tangible asset to raise capital against. It is simply a resource which may be converted into reserves subject to flow rates being commercial and then it becomes a tangible asset to raise funds against. At which point would result in a substantial rerate to the value of the Business. This is where we are heading Point A to Point B.... it’s how we finance the transition that is the immediate conundrum.

This is my understanding and I am more than happy to be corrected... in-fact I would like to be 100% incorrect.

As I said earlier 50/50 for me to how they overcome the initial short term requirement.

Good Luck All

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What CR? Just let the gas flows and sell it. I thought STX already pre sold some of the gas. If it is as big and the pressure is great, we can easily turn the drill into production and get some money needed.

WGO Price at posting: 30.5¢ Sentiment: Hold Disclosure: Held
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