Hi all. New poster on the board. The posts have been very useful...

Hi all. New poster on the board. The posts have been very useful so had a serious look at the company. Here is what I see.
1. They have gas discovered so the geological risk is low. That’s a good thing
2. They have a firm commitment of almost $27 M which includes a well. That commitment is 5x their MC. Ouch.
3. They appointed a farm out advisory two years ago and no results yet. Finding a farm in partner seems to be critical to the success of this company and 2 yrs have passed.
4. A lot of their announcements and activities are fluffy (from another poster). “This is what the project will look like IF we flow gas
5. I may be wrong but could not find any well t st info from the historical drills so they don’t know if the gas will flow.
6. They were saved by the pandemic. They had
committed to drilling their commitment well by Q1-2021 and it was delayed to Q2-2023. Without a farm in partner this company appears to be in a desperate situation.

interested in hearing what your thoughts are. Please DYOR and share.

The Captain