yup. Dilution at the asset level for a single asset company could hurt a lot more than dilution at the company level.
If we were to give up 30% for $50m that would leave us with 40% and pay for 3d, flow test and maybe 2 wells? To much given away for to little imo (appreciating it's just an example).
If and when farm ins happen I hope they can / do do it by prospect rather than the entire permit. Ie don't give away all the upside from the non makuyu areas.
I would much prefer we wait for ppsa and flow test which hopefully get the options and RI into the money and go form there.
JRI IVZ Fireside Chat - March 26, page-622
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