The flood waters have financially effected the Company by ceasing the drilling operations and because of this, the potential 17.44 million barrels of oil have not had a chance to be produced.
The flow on effect has also been felt by shareholders and option holders that have been watching the share price drop to $0.001 cents.
In the event that a Waiver is granted, once all the options have been exercised the Company will make approximately 45 million dollars and these funds could/should be used for future drilling projects.
Ciao
Nadia
why not extend???
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