The trouble is, nobody is prepared to step up. Everyone can see what the problem is.
If somebody or a group of people stepped up and bought the shorfall, and provide the company with $10M to $13M, things should calm down (ie. the share price fluctuations). Of course, that would be very expensive to them, given the current price difference.
As it is, everyone, including his/her drover's dog, knows there is NOT enough money to carry out their programs of seismic and drilling.
Not going to happen until they either, do another CR or a JV partner buys in; which is Not likely at the moment.
Until then, the shorters, day-traders and institutional players will attack this.
