Hi shw007, agree with some of your post as it hasn't been a...

Hi shw007, agree with some of your post as it hasn't been a great week on the market over all. However I would have thought that 100mmbls + from a company sitting at $0.04 is a bargain to be snapped up.
Considering the offshore mob in North of Cebu (Otto Energy: ASX OEL) has a larger expense and only have 25mmbls in reserve, plus they only own 60% I think from memory. (they do have other interests around the world with oil exploration and production).

In regards to cash on hand, that shouldn't be a concern, as their statement in the Ann advises....

"Oil sales from test production during the 12 month extension will generate revenue which will be used
to fund additional SC 44 operations."

So with the cash on hand and some oil sales, I would hope they don't need to look to the market for extra funding. (fingers crossed!!)

We've come his far, the tunnel is getting shorter and the light is getting brighter !

GL all.....