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.
yup. Dilution at the asset level for a single asset company...
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