I think the earliest drilling option is the best as it will keep the market interested and therefore help the share price. I think the earliest drilling scenario would be:
- announce plans (Feb)
- raise only enough additional money for drilling Boabab and 3D seismic of Mukuyu (Mar)
- conduct 3D seismic for Mukuyu asap
- complete rig mods, long lead orders and service contract (May)
- move rig to Boabab and drill when M2 seismic processing is complete (Jun)
- farm out Mukuyu prior to results of Boabab (share price should be much higher than it is now) (Jul)
- Drill M2 (Oct)
the big unknown is the availability of the service contractor which sounds as though it will drive the overall schedule
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I think the earliest drilling option is the best as it will keep...
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