Worthington Energy, Inc. (fka WGASQ)

[molecularcd]

Yes tomorrow's trading could be interesting.

While none of this new financing is guaranteed, that paragraph suggests there's been an awful lot of work taking place while us here have been honed in on MI updates and PR's. Four potential sources of financing in those amounts (two of which without common stock or warrants!) is nothing to shake a stick at.

the Company does have a pre-approval commitment for an $8,500,000 credit facility for the refinancing of existing related debt, working capital and drilling of the VM179 well and a term sheet for a $6,000,000 credit facility for acquisition, rework capital expense, and working capital for the D-Bar acquisition. Neither of these facilities contain common stock or warrants... The Company anticipates receiving up to $7,500,000 from a committed equity facility with one investor and may receive up to $4,000,000 from a capital equity facility from another investor.

As for my statement about VM179 being in "relevant jeopardy" I'll stand by that sentiment, but I should add that I'd been a bit shell shocked from reading the Q with its laundry list of convertible debt maturity dates and lawsuits over purchase agreement defaults. Pre-approval, specifically for VM179 (and, and) suggests the legal scenario there might not be quite as grim as I'd imagined.

Another day.