Understand your “glass half empty” view mate, the timing and terms of our capital raising journey has been frustrating to say the least and I have certainly voiced my displeasure at times. I will point out that almost 6 years ago we were an unknown, $10mill micro cap company, with a dream to go wildcatting in Zimbabwe, the last frontier. Most people said we’d never even get a well drilled, let alone anything beyond that. Fast forward to today and we have not one, but two wells drilled with multiple discoveries banked, a tenfold increase in acreage and targets, gas sales and pilot plant MOU’s with strategic partners, various ties to government, community and industry etc. etc. All this, while still retaining our 80% stake, giving us a very good hand when negotiating deals for the “big picture”. Dilution at the company level has been a necessary sacrifice, the lesser of the two evils so to speak, that has allowed us to retain our 80%. The incoming strategic investment and CR will add further dilution, no doubt, but the value it allows us to unlock far outweighs this. I am by no means doing backflips or launching rocket emoji’s about this raising/dilution but I also understand the importance and positive outcome it unlocks for our little underdog that has beaten some very big odds to get to this point. Personally, I think overall Scott deserves some serious credit for getting us to where we are, despite our disgust with some of the raising efforts along the way. I did expect we would still have to wear a decent amount more dilution and hence why I flipped all my options into the fpo’s post MK2. This little company is about to take another big step in it’s journey to becoming a serious player in the O&G space.
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