interesting some of the comments raised.I think three things are...

interesting some of the comments raised.

I think three things are interesting - and they both relate to funding.

PTR still have to raise their share of the funding - which from memory is about $5 million. so - in the current market environment and particularly for small cap stocks - they need to raise an amount that is about 175% of their current market cap (before allowing for need to issue new stock at a discount, particularly given the $ 's they need to raise)

secondly - everyone (including PTR management and Little Terry) continue to talk about the R and D Rebate money as though it is "current cash in the bank". this is not up front money. you need to spend your money first and have spent it, before you can claim your r and d credits, and then there is still a delay. on an extreme best case scenario, just say PTR were able to drill their well by 30 June 2014, at best they would get their R and D money back by November or December 2014 (about 6 months later).

thirdly - another elephant in the room is where is the rig coming from. not coming from GDY. highly unlikely to be coming from Beach. more delays.

this thing is going to implode.