RE:Royalty should get us through without cash burn
If the company is dead, it is dead and don't spend the $1.7 million. If they are in play, then Play Hard and Get It Done! Preserve that capital for the drilling of the deeps or other accretive activity!
This is a perfect example as to why we need management to be realligned with shareholders. $1.7 million dollars is a third of the cost of one of the deep wells (Based on a $5 - 6 million well cost which I believe is what has been quoted here). Or, it's a shallow exploration well, or it is additional barrels per day acquired.
If management is alligned with the shareholders they will feel that, as it is, the paycheck is likely the predominant driver for management which is misalligned.
Cut wages, pay management, at least in part, in shares of the company, eliminate severence and eliminate Director compensation.
Doc.