Quarterly

SWE are running out of cash quickly. Only $950k in the bank at the end of March and they are burning over $500k a quarter just in admin costs. So that means they are now down to maybe $750k already today. This is getting into the hot zone where some market players just do not go - they just do not buy until funding is resolved.

So it seems we enter an interesting window where SWE's quarterly suggested a farm-out would be done within a couple of weeks. All positive of course when it occurs.

But the key question is will a farm-out involve repayment of SWE's past costs?
This is not the case for every farm-out.
So I will believe it when I see it, and even then it will be a question of how much and is it enough to resolve/remove the short term funding issue.

Cheers
Gosouth