Talked to Mike Parker yesturday and he said they was working dilligently on negotiations to obtain the funds to move forward. They have plenty of big players interested but they want to see production before they committ to anything. As for dilution goes, they want to try to borrow the money against their assets so it does not drive the price any lower. Lastly they do not want to sell the farm so to speak to obtain a JV partner. He was very vague because they do not want to say anything that is not already published news.
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