WIC, here's an email I got a couple of weeks ago. This is in reply to an email I wrote earlier that day, where I asked if there was going to be any updates soon on a potential start date. I also asked how it is beneficial for the company to go with this new drilling contractor.
"We announced the 1/4ly last week with an update.
We understand that the drilling company known to and introduced by BSP wishes to take shares in TNP as part consideration for drilling services.
We further understand that the overall contract is quoted at a price more competitive than we have negotiated but we are as yet unable to verify if we are comparing "apples with apples".
If it is the same service provided, a lower price will/should mean less dilution for all shareholders.
I also speculate that a strategic drilling co wanting shares in TNP suggests that they have confidence in the TNP project and the future share price potential."
TNP Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
