Holding around $150M market cap and this post a 25M cap raising....

Holding around $150M market cap and this post a 25M cap raising.

Havnt seen too many companies do this and not move forward.

The question for me now is will Ice 2H be sufficient to attract the necessary capital to go with a decent JV structure to realise return for shareholders.

This is perhaps where the true risk now lies with 88E.

My feelings are bolstered when you start seeing the likes of Hilcorp building yet another Prudhoe Bay Island.

http://libertyprojectak.com/


These are guys that only a few years ago were giving 1,400 employees a 100K plus bonus and were involved in the initial stages of AUT's drilling campaign which eventually resulted in AUT being taken out by Baytex and Hilcorp by Marathon if memory serves.



Another question being can we drill initial Icewine acreage with long laterals due to high porosity/permeability.

I also note that initial AUT annmnts mention multiple wells from one pad and I take it this being due to excellent directional drilling capabilities these days.

http://www.shaleexperts.com/article...n-Details-Sugarkane-Downspacing-Ops_999953634

"Multi well pad drilling has increased throughout the 2013 development of Sugarkane Field. During the fourth quarter 81% of wells were drilled in sequence from the same surface pad location at various locations including Aurora's operated wells. Multi well pad drilling offers cost and efficiency savings as a result of shared infrastructure and avoidance of potentially lengthy rig and fracture stimulation equipment moves. Further efficiencies are being delivered with several pads undergoing batch drilling, whereby the vertical surface hole section of wells at a particular pad location are all drilled first, followed by all of the horizontal sections. This batch approach allows equipment and operations to be configured for a particular repeatable phase of operations resulting in efficiency gains."

d.