No all good. I knew where your comment was directed.
The way I see it PVD is pretty much at cash backing, and have a conditional deal for a drilling contractor to fund the drilling cost s of a three well program in return for a royalty. This way PVD still maintain 100% as they search for a farminee to fund the remaining costs. PVD have spent a lot of money getting the permits drill ready so I wouldn't be surprised to see a farminee reimbursing some of these costs...ie more cash back to PVD.
So if Neaves can pull off a deal for a farmin...we have a company at, or below cash, with three fully funded wells to be drilled.
If he doesn't pull of a deal...well the stock will probably be cheaper!!
Free money!, page-20
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