b4bmm, I don't think anyone is keen on dilution but realistic...

b4bmm,

I don't think anyone is keen on dilution but realistic enough to know that it will need to happen. If we only have enough to cover 3 wells and for sake of a scenario of say the 1st drill finding a couple of compartments or other tecnical situation that although have good oil will require more technical work being done on SNE2 and waiting on results before further drilling and lets say they decide to drill Bellatrix next instead of SNE3. Although oil is there the market may not like it and SP stagnates until next well. We are into 2 wells and still waiting on lab results and 2nd drill to finish. That puts a company at risk and harder to sell to investors. A small raise of say $20 Million gives the company room to move and more time to set up the big raise later under FAR's terms and timing. I'm sure they can pump the price for CR to 9 or 10 c easy enough prior to drilling and is what they are paid for (to manage the risk). I would prefer a small raise just when we start drilling to give them room to move. This is just a scenario and among a lot of scenarios. I am not an expert so don't take this as gospel as I really know nothing about technical stuff but I don't really want the company put at risk on only the first well. IMO there will be dilution and a consolidation next year. I've been wrong before and will be again but i think they would be a bad BOD's if they didn't raise by middle of October. Just an opinion and would like to hear other opinions. Don't shoot me everyone just a conversation.

SC