Unfortunately I think a CR is inevitable. From memory, the company only had 2 or 3 quarters of cash left in the coffers. we've yet to drill the BBB offset development wells and with new payments for leases this will further accelerate the need for cash to keep the lights on. My bet is that when the drill permits are received and announced, this will be the time the CR is announced. In my opinion there's no way the company and walk the financial tight rope through to the proposed first revenues in time given there will be costs for the operator and I'm sure out of scope costs to actually get the drill sites ready. I dare say it would be a 10nil raise.
it'll just be disappointment because it'll halt any positive sentiment that the permit announcement will have on the SP which is already suffering. i wages at a raise at the kid 2's if the SP can hold the current levels but if it trends lower we'd be looking at a nasty discount which of course we retail investors will be left out of in the cold.
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