They have been constantly issuing shares for oil properties and that is why the number is now greater. Someone should instruct them not to issue shares when share value is low, you should sell stock for assets when share price is high.
More than 15,000,000 of those shares are owned by the listed beneficial owners (5M+ to Jayne and Mario Lanza). I would imagine the BOD's own at least that much thelmselves.
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