Time is money.......
I attended Wednesdays meeting.I was very impressed,to say the least.
Tas20 has given us most of the relevent numbers to evaluate SPI's potential.I will keep this short,sweet and informative.
Primary objective mow that we have demonstrated repeatability:
Take our Contingent resource of 1.6 TCF and have sproule place it into the "proven reserve" category.According to managment this will take aprox. 9 months and about 15 million cash.We have 5 million in the till,so i believe we will raise around 10 million in about 6 months time.Dont quote me on that.At that point,we should begin to trade for at least .50 cents per recoverable mcf of gas in the ground.(industy comparables trade for about .50 to 2$)At the moment, the market is valuing our gas at about .06 cents per mcf.To sum things up,9 months and 10 million dollars later, we have TENFOLD potential in our share price.After that, I suspect a major partner to eventualy come in, or we will get taken out all together.The next 2 years should be very rewarding for the patient investor.
Goldbug317