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You must be concerned that with all those previous wells that they could not find the oil/gas....well I guess that is why they were resources and not reserves.....Cash was looking to be a problem going forward if success was not forthcoming.....After this debt funding would look a very risky strategy going forward thats assuming they could even get it!! IMO likely a big capital raising next quarter at what price is anyones guess but likely a lot lower than this, pray the markets dont take a battering between now and then!! Could be worth selling and buying back lower...Not having a go, just calling it how it is!!!
That other company (which I hold) with cashflow and proven reserves is looking a much safer bet at this point in time..
Cheers
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