floyd - lucky i am bored hey!Mick, i never said they were...

floyd - lucky i am bored hey!

Mick, i never said they were insolvent, I said they were broke, which they are. and are going to cap raise, which they most probably will.

they probably have $1mil left in the bank after extra costs and debts.

Their only revenue is H1 making them about $190K a month

they are hardly in a position to spend $2.5mil on a whoppa well or to risk drilling another Moeller, or to drill another Wilcox.. as this will leave them with $0 in the bank if it fails.

So there are 2 options I can see

1) Road show & cap raise
2) sit back get the wells fracked and see what revenue comes from it


option 1 gets them drilling a whoppa well for xmas.

option 2 gets them drilling maybe mid next year...?


either way, this stock is hardly going to run away from me in the short term now is it :)

Bur is not over sold, lets wait and see what the next game plan is before we start counting our chickens.