EPR only had $1.6M at end of last qtr which leaves them little room for funding P46.
With this small cash position and the possibility of P46 being a duster they should reach a position where their final interest is fully funded. The weaker oil/gas prices will unfortunately undermine their position in farmout negotiations. This may mean they end up with 12.5 percent or less. Any more i think would be be a win for EPR.
If P46 is a duster then a placement under 3c would be ugly.
EPR Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
