That would be a great outcome.... however, I personally think...

That would be a great outcome.... however, I personally think that this may hit 2c in near future. It has no reason to stay at these levels... 1c cash backed oiler with a very good lease and some real activity is a rare opportunity which does not knock at our doorsteps quite often. In coming days, I will at least tripple my holding if capital permits.
Vertical wells are pretty good but they have to drill one horizontal well within 2 years which will be costing 6.5m. They definitely need these options to be converted or a debt funding. Remember, they struck a very nice debt funding deal last time. 6.5m with Macquire paying 2% interest against only one asset means no ther liability.... I am absolutely impressed by that deal.

Cheers