Not sure if signing a mid stream company was imminent in Feb and getting a few ducks in a row is probably a good idea. They still have a cash balance to use and if they lease the facility from the mid stream Company who then run the operation [so no buying the facility] it should all all be self supporting with revenue stream. If they did need some extra cash then a debt facility would be the better option. To get a debt facility a few things need to be established including the mid stream facility.
Their focus is on production. They know they have a resource so no need to keep drilling. To drill and to then only to Cap to purely get the share price up is a waste of money in my opinion. If they did that then a CR would perhaps be required but you are better off drilling once the production is in place as then you can tap into immediately and bring on line.
BNL Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
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