RE:Private placement There is a video on YouTube where the company CEO says they will raise funds without diluting the share pool... the video was from January 2022.
He also talks about the plans for 2022... namely getting a few more wells drilled and production started on their helium.
It's going to be a big year. The market has been choppy and it has affected the share price with the wild swings. But for a $32million market cap(50c a share) you get a company generating $1million/month in oil revenue with a helium well ready to start production.
Over the next few years they will be drilling dozens of wells.... finding more helium/natural gas and light crude oil along the way in central Alberta.
Penny stocks hold some level of risk... but really what more are you looking for? Oil/Natural gas/helium..... all three are in short supply these days.