hi ron
it is still probable that 200-400bopd by sept will be more than enough impetus for fundamental investors to see value in this at closer to 10c (still under $50mill for a fledgling producer with a decent oil reserve)
that will put the options in the money. $24mill is worth striving for, and i do not doubt that this company will use its entire arsenal to try and make this happen.
that is your $3.5m payout, $5mill to see a few years of "corporate overheads", and over $15mill to boot for funding a couple more wells.
though i do not disagree with you that a farmout would be nicer than a cap raising, i also think that Plan A could still be "get some oil flowing and make those oppies worth it"
hi ronit is still probable that 200-400bopd by sept will be more...
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