Yet it should have been except for tool failure which is completely attribute to BH.
Yes and that was the point I was making. If everyone wants a discovery booked then why 3D? IF it were the absolute priority they would have raised the dough and got about drilling. I believe that SM, rightly or wrongly, has his long term glasses on. IF we raised 20 million at 10c another 200 million shares but if that meant booking a discovery the sp would be 50c+ in all likely hood. A 20% dilution with a potential 300% sp increase. Even if the sp fell back by half we would still be, as shareholders, in a much better position to a. Do a farm in deal, both having booked a discovery, having a second well and a bigger MC. b. Raise more cash to drill with less dilution in future. I don't subscribe to the idea that any farm in would pay overs based on our current MC. So we either go in to a protracted period of not much happening 6 months+, which could see the sp crater, or we book a discovery. As a shareholder I want discovery yesterday.....I'm not sure at all SM is on that page.
IVZ Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
