Trying to secure funding out of Saudi Arabia, the United Arab Emirates and Qatar will be a LONG process. My guess is it will take at least 6-12 months. Things do not happen quickly there. Additionally, sovereign funds are traditionally hesitant to play in unproven reserves.
Hope that EEGC has funding back-up plans if the Middle East is their best chance at funding before the MRT deadline approaches next year.
I would try to complete the first well and use those results to secure the larger funding round on more favorable terms.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.