Well, the drill program in 444 has just been finished, and the company still has over two million in the bank. Thanks to the brilliant move to cancel the farm-in with Henc, the latter had to fund 75% of this well.
My guess is that Henc had to give up a substantial portion of 444 to Southern Hydro, a subsidiary of Holloman Corp, which thanks to this move now controls the majority of Henc and a majority of Henc's interest in 444. If Henc gave up say 25% of 444 for $ 1,6 million that would mean that PEL 444 was valued by Henc at $ 6,4 million, that was of course before the dry hole. Henc market cap today is still 10 million. Draw your own conclusions.
And how can anyone claim that "Henc is in for at least two more wells"? Show me the beef baby ! To raise that money Henc will then have given up its entire interest in 444, or maybe in the Cooper.
And as to me trying "to undermine". I have always patiently pointed out the true facts, pointed out the false statements made by Henc and its pumpers, and tried to show how ridiculously overvalued the stock was. (and still is) Just go back and reread again some of Genstock's and Chauncy's claims, and read also what they had written about STBR. Same story.
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