management won't listen, page-21

I believe management are doing their best under a very agressive spend on drilling and production.
They started with next to no cash and aquired a great acerage asset with mainly GGP shares.
It is just taking time for those shares to be taken up and the realisation of value.
I take your point re debt funding and this could now be an option.
The company has said it needs $9mill to do the 10 well programme.
Everyone has jumped to the conclusion that it will raise the full amount in one hit. This now may not be the case.
My spreasheet states they need some money soon but with the increase in oil production the total CR AMOUNT could be reduced.The other alternative is to raise a small amount now and slow down the company spend after the 5th well. This could happen and reduce the total CR.
The company appearS to want to include small shareholders and are aware the SP currently doesn`t reflect the potential value.
My thoughts are there is now a good chance the CR will be done in 2 hits if they have to go soon.
It all depends on THE companies cashflow from sales and expenditure.
Cash flow is the No1 reason that companies fail, even profitable ones. Management have made decisions to press on and drill frequently. The expense of this was covered in the Chairmans address, re $9mill needed.
I think management will choose the best option for the companies growth and shareholders.
I have been critical of their share issues in the past but right now it is the markets valuation of the company that is incorrect. If the SP was 3c-3.5c the CR would not be such an issue.
Cash flow management is now a crucial part of the companies pace of growth. Nice place for any oil company to be if its handled well.