The work over rig that was brought in to determine ew reserves was Not up to the job. qed.
It looked like a jigger that you would use to clean out a 20 ft deep water well. lol
A real work over rig and crew should be deployed.
A genuine, accurate, bankable reserve, that could provide the potential for the company to borrow the few bux needed to continue holding 25% of fermat for ALL shareholders needs to be carried out.
8 or more bcf reserve would provide some decent security for a loan to get 25% of fermat over the line for ALL share holders...
Continuous disclosure rules need to be adhered to, and the executive need to be reminded of their duty to ALL shareholders ...
The big holders in this company need to start thinking of all holders...not just executive team and the original backing insiders.
There are holders here that deserve no further dilution, lower farm in numbers or sp deterioration, especially those who have been in since the start and are holding big paper losses.
If ew is plugged into the grid before we know how big the reserve actually is, the co shoots every holder in the foot with reference to a contingent potential to obtain secured loan capital for fermat from an ACTUAL fully defined reserve.
Best you find that fermat money to keep 25% of fermat at a rate considered fair to ALL holders jr/woody etc.
Complaints to ASIC and FIDO please
EPR Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
