Well's are expensive, even the cheap ones. However remember they have a cash position @ 1st April - $3.2m (inc recent options excercise)
Total operating cash flows 484k in dec qtr.
about 5.25m options to be excercise @ 40 cents
Other expenses
Bond of $200k to US Reg
3d Sesimic data package - $600k
So maybe another 5 million share issued might cover it.
gl all
