Heading towards all time high!, page-154

There a total of three seperate permits that have been submitted thus far Enterprise, Galactica, and Pegasus. Obviously we are focusing on Enterprise as its well advanced in the pathway for it to be granted as the hearing date nears, the other two are in initial stages and where submitted late june (see quarterly report) my take on what management are saying is they are keeping thier options open to which one they drill first. Galactica in fact posses less risk as it contains a previous drill hole that hit substantial volumes but was plugged and unfortuatly records lossed. This decision of which one to drill first will probably be dependent on two factors 1. Money on hand 2. Timing (Time it takes to grant permits)
while management have stated that now both parties have worked out the new permit granting process under the new Biden's legalative requirements, so the process should be quicker if not smoother, if the funds are on hand through a cr, management may wait till Q1 2022 and drill Galactica first because of less risk as it contains a P50 resources of 4395mmcf twice as large as Enterprise however the majority of that is at depth, so while I understand everyone wants to get rich before Christmas, gas exploration is a slow and methodical business and patience is key. However with that said I believe as previously stated they will cr after Entiprise permit is granted waiting for the sp to hold above .06 for 30 days to achieve a price of .06-.065 for 200m shares for $12m, drill enterprise first and drill Galactica and Pegasus simultaneously at depth, I think this presentation at the sparks plus mining day is exactly that strategy playing out, so far the big wage rises to executive seem to be good value