why, page-6

annual report is going to be out tonight,

just spoke to coy,

its an interested position,

flows are capable of around 20bl/d per well (82 from 4)

but that was on pump, and we need to get electricity to those wells to sustain.

So, we know that we have decent flows, and i remind that our costs are around 8/bl.

Its a recession proof venture with costs that low.

I asked about the capitol position, and they said they had raised small amount a month ago,,,have reduced cash burn, and my words, its about getting over this hump, and into a cash flow positve pos.


I think the sell down, may be concern related to any raising,,,asked if it was forthcoming, and then they said about last month, and suggested a read of the report would explain better their position.

So i didnt get a yes or no.

But, i suggested, and it was recieved well, that i have noticed that any raising discount, always see the sp fall to that, so give a free option to go with, would support the sp.

That was recieved well, and seemed well understood, and familiar.

This looks good guys, albiet, we need to simply get along for the next 6m say, and into some revenues.

Very cheap, for a potential low cost, many wells play.

i'm tempted to try and snatch a few more at 49-50, but trying to keep some powder dry on any raising.

My gut says, it might just go to a placement to an insto??

cheers