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2,169 Posts.
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28/05/08
07:26
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After the DST of well 1-NORD-1-SE in block 430, I see a call for unpaid funds (34c) on ERHCA.
This will raise approximately $37.4m, which will be enough for most of the development work on blocks 430 & 330.
As per my calculations, I do not see any additional funds before commercial oil production.
Of course we'll have approximately 210m shares outstanding and another 110m oppies.
Fully diluted market cap = ~$165m.
DST in block 430 in 2-weeks I see.
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