Drill sites have already been identified ......
and a financial group out of New York has provided much of the funding so far. Yes, with any start-up company funding is necessary. How many companies became a success without funding ? I can probably count the number on one hand. It takes money to make money. I'm happy the proposed R/S of last year has been called off as well as the need for an immediate increase in A/S. To me this signals that their wells are producing much needed cash.
<Yes sorry I should be more specific. I understand that they have 5 wells already producing, but in order to drill more on their 3,450 acres they will require funding of some sort which will either mean short or/and long term debt or an offering (therefore dilution in one way or another). This will probably stagnate the PPS until revenues from new wells go online and as you know surveys to find drill sites take time.
I'm with you on getting in at the beginning but I'm willing to bet we won't see decent gains between now and 18 months. (apart from short term gains after the CC)>
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