Yes that's true and turns out the producing wells have far greater potential than first thought. On the question of how to fund further wells, infrastructure and to increase reserves: was told didn't think a cash raise was a good idea as diluting SH holdings, thought getting a partner/farmin might be a good idea. Though he had lots of good ideas how to improve outlook over the coming year and how to do it in a way to conserve sh interests. Will just have to wait it out.
He thought (from memory) that when wells are finished and hooked up income and assets should equate to 15-20 cents. But again acknowledged the market we are in.
I asked what's on after the last well. Was told rather than looking for new ground might focus on improving existing assets which are bigger than first thought. However my impression was they are pretty active and open to anything that will improve the company.
Will be cash positive by around April with existing wells.
So I'm happy to hold but of course wish my buy in was at this price and not double, but as will all my holdings will just need to sit tight.
KOG Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
