There is no money in the kitty for drilling Rex4 even after this capital raising. They expect the steady rate of oil production to be between 800 to 1000 barrels per day from the three wells but targeting only 400/day in July. Shouldn’t they be targeting full capacity at the current WTI prices? We need to build cash reserves quickly to fund Rex4 from operations not from another CR.
Will take up the offer but like to see an end to continuous dilutions.
There is no money in the kitty for drilling Rex4 even after this...
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