For sure! of course there needs to be some risk discount...

For sure! of course there needs to be some risk discount multiplied through, but the biggest concern of mine was cash, and they have surprised with how lean they intend to be. the stock is so illiquid, the directors could chuck in 10k each and wipe the sell stack, moving it back to a realistic value. I think this is one of those stocks that will sit here and then a deal will get done that will value it at multiples of the current price. i was nervous about cash, but now i think they can afford to wait. They would definitely be in talks and may be able to sell off a portion of their interest to KPL or something.

i'm encouraged that the onshore has progressed a little. i'd given that no value, but just a reasonable farmout there would really boost the company. imagine if they were to receive just 5M in back costs/cash payment. thats their market cap!

as long as management have a funding trick up their sleeve, i think we are in good shape!