GREY:EWDYF - Post by User
Comment by
timinoeon Sep 22, 2010 8:09pm
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Post# 17481461
RE: Watch for some heavy shorting over
RE: Watch for some heavy shorting overAll good speculation but what happens if they bring in a farm in partner before they spud the well? Not so pricey anymore eh? If they could bring a partner in to cover even half the cost of the well and Mega has to pay 10% as well that would leave them with only 40% or about an $8 million dollar commitment. With $22 million in cash it would still leave them $16 million. That also assumes they don't get any cash from a potential partner like they did last year. Don't sit too long if they announce a partner or you will be watching the stock get away from you. Brad mentioned in his presentation yesterday in London that they were hoping to have a partner before the spud date. Don't think he would say that if he were not pretty confident.