@redrun, thanks for the info. As of end of June, they had drilled 22 wells, and I don't know what they drilled in July - perhaps delaying due do completion of gathering/pipline infrastructure. So let's say they will drill another 25 @650k ea = $15.6mm. Paid for by $13mm cash and further options exercised as well as cash flow from current 40 producing (+4 non-op) + 18 completed in waiting + future drilled as they come on-line. So yeah, that confirms in my mind they don't need to raise extra capital to service existing acreage. I hope they do have expansion plans to buy more acreage, and wonder about RFE Redfork, which is looking to monetize their assets (I read it as sell) since they don't seem capable of drilling their way to success.
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