Spot on Brix. Their Dec qtrly said it clearly.
Cash on hand: $8.877mil
Cash out in Q1-'12: $8.035mil
Frac'ing/ testing is not cheap.
So, once they raise sufficient funds, they can go & frac more wells & increase the cumulative production rates :))
Hey, there r companies producing 3000 bopd from a single well & then there r those that do the same at 30-200 bopd, albiet from multiple wells.
Is a win-win scenario, nothing wrong with the fundamentals. One needs cash to keep delivering the results & a steady cashflow from the flowrates.
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