Exercise options, page-99

To be fair mike not a lot has happened since the well was shut in due to problems so I guess they had to say something like they have to entice many holders who are on the fence and may or may not exercise. Cap raising rumours do concern many option holders, they do me. So by saying cash in bank was a good thing in my opinion.

It is important that most exercise as this raises funds without the need to do cap raise. Imagine say only 50% exercise unlikely imo which only gives $3mil USD. Plenty of costs for year to come so company wouldn’t want to do a cap raise prior to reworking of this well the SP would certainly be lower.

Anyway hope greater than 80% exercise this leaves enough funds if IW2 runs smoothly and that puts us in good position for another idle period until 2019. If doesn’t run smoothly then funds would be drained quickly I guess along with drilling window.

Hopefully we are all happy in a few months time with success. If no success then the wheels will fall off SP quickly in my opinion. Very risky few months in many aspects to be fair. Fingers x GLTA. A lot can happen quickly in both directions.