RussianR you said 1. No proven commercial discovery - to do that...

RussianR

you said
1. No proven commercial discovery - to do that will cost 100s millions still from here
2. 100KM off sure, 1KM deep water, 4KM deep drill - operational expenses will be huge
3. Burn rate of 40M per quarter - over 3M per week
4. MC is insane to where the company is current at the maturity curve
5. Way too many shares on issue - over 3 billion shares before any further CRs or exercising of options both listed and unlisted
6. CR required for April next year on current burn rate
7. First Oil in 2022 - that is right in 8 years and targets that far out always slip

1.May I say that you are wrong to say cash burn is 40m/ quarter because its back to normal cash burn now that drilling is over.
2. No one knows when and if a CR is required just yet.(we have very good assets Im sure Cath and the team will come up with something.(A possibility is for a separate company float either Senegal assets or Senegal) Note that Kenya is not factored in to that share price at this stage.
IMHO the share price is reflecting market sentiment and not the enormity of the find that appears to have a massive potential.
As an example of sentiment Tullow oil has reserves of over 1.5 billion barrels in reserves and is trading well below 50% of asset value.

From here we need patience and time will change peoples sentiment.

Chass




Chass