Or 6. Forget 1 - 5 and secure a funding facility that will meet all required cash through until self funded.
Report out yesterday saying new funding imminent which means no need for any further dilution.
Don't be too quick to jump on the "I am right" pedestal just yet Dis - I didn't last week when we were at 52 and you were calling sells in the mid 40's.
Don't forget in this qrtly they havnt included the increase in funding they get purely from the Jun30 reserve upgrade let alone a new expanded facility.
Yes this ideally should have been sorted before the qrtly to stop the falling on the sword we saw yesterday but a little matter of a 3 week govt shutdown probably didn't help the regional US banks clear their inboxes.
Capex was higher due to 13 wells drilled vs target of 9 and additional expenditure on infrastructure and water disposal - expect that to drop this qrt so for full 6mth period Capex close to target after adjusted for additional wells.
Yes the drilling program is aggressive but only as aggressive as it needs to be to HBP. The only real question is can we fund it without further dilution and that is looking very likely.
Guidance has always been 2750-3000 net of royalties by end of year and that looks on target.
Far tIo early to be talking about offloading land IMO. But let's see what the next few weeks bring.....it may require some quick back peddling from some here.
RFE Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
