bedwards.....Good points, but:
I wouldn't assume that nothing is being done. That is not the kind of thing usually PRd.
I'd pay cash for the drilling, since I could from current production. I'd only entertain shares if a vendor preferred them at very discounted prices, knowing their true value.
Side note: To me it would be very reassurring if vendors close to the action (say drillers) were preferring shares over cold, hard, cash. That tells me they really like what they see that Hemi has and is developing, and they see more profit eventually with the shares than they would with the cash. A driller sees the Collins almost blow out, sees the area of hemis leases in the trend, and sees the share price where it is. They say, "Holy Sh... Keith, we'll only charge you half, but we want payment in shares."
Food for thought.
