the making of a multi bagger, page-16

ARH77, some very good thoughts there and quite alot to consider. My personal view is:
- we have sufficient cash to complete the current campaign including Desiree, West Klondike, S Welch, Port Hudson and Louise.
- the 10% placement could be going to the new participants in the napville project (2 wells drilled before March 2013 which is Louise and another (call it Mertle for arguements sake) if correct that could be for Services or assets not cash.
- the voting in the AGM confirms the majority of shareholders are supportive of mgt and their current plan. They also value the company above the current sp and are happy to hold and sit on the sidelines as most have enough shares already & plenty of options to cover any upside price movement.
- Abita is currently a "Show Pony" $2m to earn $70k this year is a worry but I am encouraged they are targeting the larger oil reserves now which should be a good thing. Ongoing commitment to this project to me shows confidence by mgt in the others projects currently being drilled, otherwise if they were concerned about running out of money they would sell Abita it at above cost and do 10 Port Hudson's in the next year.
- One other thing to consider is if successful on 2 or more of any of these and assuming abita one day earns some money then the annualised revenue could be between $5-9m & with options in money would have about $25m in the bank. Not to shabby and well worth considering.
- The Louise spud will be a significant event as this will clearly show the hand regarding the Napville development including other interested parties and this announcement will be more important for the ongoing potential than any of the others people are waiting on. Similarly by the time the 2nd well is ready we will clearly understand the bigger picture being planned.
I Look forwards to others views +ve and -ve. It has been good for me to try and understand where others are coming from as I think their views are currently representative of the broader market. thks