I see 3 pathways going forward once we discover commercial oil
1) PRL raise another small amount (say 10-15 mill at a much higher price) for additional seismic and identify more targets/resource upgrade followed by ....
2) takeover at a significant premium
or
3) Farm-in - we give up a portion of the acreage and we are free carried for life (well to some extent based on discovery milestones or something) for any future development. I don't think there would be any shortage of interest either.
I don't think mgmt. will want option 2 however if they sold the asset once further proved up they could then do spain plus any other project that popped up with no funding issues.
Mgmt will not want to lose control of the project or get into debt
