as a recent poster alluded to on the lse.co.uk potentially 88E...

as a recent poster alluded to on the lse.co.uk
potentially 88E can finance the drill or even the drill+3D via debt financing facility, meaning that they cap raise or push oppies to be exercised to raise the cash needed to return the portion of debt finance which is not covered by the cash rebates...

one of the best possible scenarios put forward was only getting debt facility for 16mill to cover the drill, cos 85% is covered by cash rebate, leaving 15% which they could raise during or after the drill to return loan, but they have the 3.5mill and some cash of 2mill that could be used as security on top of the 85% cash rebate...
in general, it was put forward that 88E could, if they have flexibility with the finance facility, effectively get through the drill and potentially the 3D without raising more cash nor farming out at all.. meaning that they could do both when they have some juicier 3D numbers for conventional stuff let alone unconventional sweetspots..

they only need to pay in cash 15% of the drill until the end of 2015, so to get a loan for 100% of the drill might actually be the best thing to do... 85% is covered by the rebate, meaning they will have to find 15% of about 16mill which is about 2.2mill.. this is where it becomes interesting... cos one wonders whether Basinski has come across the data he is expecting in the drillcore already.. via historical drilling within the area... via google searches we havent been able to find any real detailed info on any of the previous work done in the area.. but its probably a different matter, when you are directly involved on the ground so to speak... either way, it might be easiest for 88E to raise 2.2mill during or after the drill, or via oppie exercising if the sp is much higher as we anticipate etc..