J and J the great aim is to convert options at 4c.Not sure of...

J and J the great aim is to convert options at 4c.
Not sure of the time frame. If all updates and reports
are very upbeat then this will happen in the short not long term. Would look for reserve upgrade 10 times the present
to achieve this. Also if they produce from AT 5
at a reasonable rate ( which will extend the time frame )
Only my opinion though.Added to this AT 4 production increase.
Not sure of Tortugas time frame ( only re entry )
remembering the Oil rush says potential $ 20m per year
from this alone.
If this occurs and options are exercised ( plus new private oppies )there will be no need for any new capital raising.
That is approx $3m for the oppies conversion and further
resource based loan against 1P reserves.
All conjecture until all results are in.

DYOR.
GLA.