For $500k per well completion doubt they will be fraccing the...

For $500k per well completion doubt they will be fraccing the wells , so is it shale as you imply?
Payback is around 15 months and looks like they could do 2 or 3 wells for the money from the placement , so looks like that would cover the company admin costs , more importantly if the wells prove successful then it boosts confidence that the wells can be replicated profitably .
Nice lifeline in the interim even if it seems to carry about 2000 basis points in interest .