On Sept 17 (2 months away), we will be 1 year into the first two year period of the DGR Ugandan Oil foray,
Kanywataba Block, (in assoc with AJQ) .
The first "2 year" expenses are reported to cost DGR, and, equate to $4 389 321 AU.
I expect, based on loose interpretation of 2017 Financials, this has been covered by the $8 million AU forward in lieu of convertible notes by Tribeca.
NB: these CNs have been are issued with a strike price of 20cps.
I am interested in this because
1, Absolutely no progress has been reported by DGR.
2, The ASX ann dated 14 Sept 17 stated that negotiations with the government of Uganda "should " enable an exploration licence for the kanywataba block
- confirmation of this exploration licence is yet to be declared to the market.
3, Based on the financials, DGR ( Shareholders - you and I ), have made a substantial investment in the Kanyatanabe block - other than that , where have the Tribeca millions gone ?
I believe, given it is our funding being spent, we have authority to request better explanation in what is happening here.
Can anyone enlighten me? , (a novice accountant and avid DGR observer), what is going on?
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