Texas is a mud puddle washout. FactTexas has been a washout. That is the real reason for moving into a new drilling program.
Petromark Energy Group which Portrush has recently partnered with has no current projects underway.
A private placement will most likely be awarded to develop research and drilling. Hopefully the private placement will not tender at least a million dollars. The dilution will be absorbed IF the program tends to be successful after costs. 15 to 20 million at $0.05 share count for a private placement is what is needed to kick off a proper program.