announcement brewing, page-8

A small placement now (they surely wanted a little more than $3 million) and they could see themselves through till income outweighs outgoings, as far as I can work out. I think about $10 million would see them through if NO other funding comes through from the mob in Florida or anyone else. Doing the numbers on 20 or 30 wells per year and extrapolating out the numbers leaves you with a net present value for the Appalacian of anywhere between $1 and $8, depending on what assumptions (and there are quite a few) you choose to make. Whatever you input for this project, it's certainly worth a helluva lot more than the current market cap and with no need for dilution, the share price can only keep going up as the company gets the story out there.
I feel they're handling it extremely well tying up loose ends with the project first and then promoting it, rather than the other way around and am one very happy shareholder.