General chit chat, page-446

Optimistic that the drilling program will be prosperous, just a heads up regarding what we may be in for as share holders and how to plan accordingly if this is an insight to our potential prospects with our Investment as "not a play thing" but more of a financially viable mission.

"In regards to the upcoming Queensland drilling event, while EXR say the drilling is not challenging, it does present a risk.

Specifically, the risk is that EXR does not achieve the desired flow rate from appraisal drilling at its Daydream-2 well.

Further, EXR had $11.8M in the bank at 31 March and the cost to drill its Queensland well will likely be somewhere around that mark, so we expect EXR will need to secure financing which could be dilutive to shareholders.

For the other risks to our Investment (from across all three of EXR’s projects), along with what we want to see from EXR over the coming year and our Investment Plan for EXR, see our Investment Memo."


https://nextinvestors.com/articles/exr-drilling-in-the-heart-of-the-billionaire-playground/