As far as it is some sort of gamble for us shareholders, it is even bigger gamble for the company and directors + LNG (that holds millions of shares). Directors recognize the choice they have made and with very diligent approach it gives a lot of confidence. Blina was flowing 937 barrels of oil per day at around 1,100 meters deep. So, if we can make 900 barrels of oil, the company will be able to transform it self from specie to a middle size company very quickly. They probably will not need to do any raising in the future upon success with the Backreef. However, still might to do one, that will be at tens of cents and for a small dilution bringing millions of dollars into the company, or using Cash Flow from the operations (again upon success) to get a loan. In this case it will be able to accelerate company development/other projects at such rate, to become a good midsized company.
Good luck to all of us who is holding.
OBL Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
