Voices of Reason, thanks for responding.Yes, I'm new to the site, but have checked out the forum on this site prior to registering.
I'm not an 'oil man,' but I do know business. It could be that the company is working with scientists, other experts or what have you who may have done recent tests, providing new projections of how much oil could be produced in the area. Plus, isn't the company using new drilling technology to develop oil resources more efficiently--and to extract more of it? I'm not a proponent of fracking, but if the company is looking to use other, cleaner methods, isn't that a good thing?
As far as there being no guarantee of obtaining adequate financing, that scenario seems to be true of most penny stocks. I try to stay in loop as to how well these types of companies do over the long run, and there are always dips and spikes, mergers, partnerships, and big paydays and even dead ends! But they're start-ups and of course, there's no guarantee of anything. Trust me, it's not in my best interest to make a bad investment. I'm just one to look at all aspects of what these companies are trying to do, good and bad. A potential merger may give them the revenue they need to move forward. Maybe there are other things in the works that we don't know about that might help them meet current financial obligations.