Doc, you mention the well for Q1. Unless I am mistaken, probably am as usual . We do not have the funds to do that as they have been spent of the Nanshunk/Horseshoe area for the already announced JV.
If so, the proposed possible 'Farm out' for the conventional well for Q1 2019, is going to fund this, even if it is only up front cash for 'back costs' etc. This in itself should have sufficient positive affect on the sp to cover the year end option conversions for another $1m US to be added to the bank account. I suspect these funds will give us a decent share of the Farm Out as well as retain sufficient capital to cover the ongoing operational costs for 2019. Will there be sufficient for the second well for Q1 2019 that is also permitted?.
In fairness DW did not seem too perturbed about finances. I was surprised that he does not see the SOA rebate as being materially important at this stage where finances do look to be a little stretched.
Perhaps he may be feeling relaxed for good reason.
The data room door for both Conventional and Shale has yet to be opened, who knows what Aladdin's cave may exist there. I doubt the cupboard will be bare.
88E Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
. We do not have the funds to do that as they have been spent of the Nanshunk/Horseshoe area for the already announced JV.
(20min delay)
