Understood Goldie. It is just if we can get our SP up to 5 dollars by May, then I would rather use the money in the bank presently and offer 10 million shares at 5 bucks and raise an additional 50 million dollars through institutional dilution of common shares.
We can keep our 2/3 interest still and not be paying 8% of that loan back to a bank and have the uncertainty of the oil market hanging over our heads.
If the share price stays lower, then I struggle with dilution and would rather take out debt than JV out currently. We have no choice if our sp stays low other than to JV or secure a loan from the bank since we will burn through $ in an agressive drilling program quickly.
I am willing to take a 10% reduction in SP at 5 if needed and keep 2/3 and still have no debt to 5 dollars and 2/3 and have debt.
I know this probably is not a popular opinion by most but my research has shown that if the company is growing and the price is high or maybe even a little overinflated (like last March), that this is often the safest and greatest shareholder value long term. This may also increase our chances in a merger if we can keep our 2/3 portion. All my opinion. Feel free to disagree. Enjoy your posts and lets hope for some magic tonight:-).
SSN Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
