Spot on about the "expected" Acreage. It's why i highly doubt IG...

Spot on about the "expected" Acreage. It's why i highly doubt IG will succeed in any Class Action. You look back at some of the early announcements and presentations with hindsight and the language has always been carefully worded. Even to the extent of the reserves report which was only "based" on a previous report. And where company clearly states they are in negotiations with third parties to acquire more acreage which never eventuated.

Between it being a spec stock and the tentative language being used, it makes any claim very difficult imo.

I don't blame IG for the current Lind mess, but I think we can all agree that Novus was better deal. IG and the GEM funding and just general hatered of Novus made management shift to the Lind line of equity which no long term holder could ever see as better.

Thankfully they avoided the GEM facility which would already be dead in the water at 0.1c as they only wanted 9.9% holding which is only a few tranches at this rate.

But we might still find ourselves in a similar situation only a few months later. Lind can't go above 20% and that is only about $800k at this rate. Then what?

I honestly don't know what the company will do. They can terminate at any time but have no alternative. They can terminate if sp remains under 0.1c for 5months which it could. And they can elect to payback the money with a penalty rather than issue shares in any given month.

None of those options are going to get the drill turning and frac flowing. Yet a sustained sp of 0.1c looks probably.

Will be very interesting what Lind do now with the June conversion. Sp is 0.1c, will they forgo more shares again and effectively pay 0.2c? They might but it's not sustainable business model.

I don't mind 40bbl and 12month payback. Look at MAD. All there wells are cheap to drill and produce tiny amounts. It does add up over time.