RE: Seeing as they are hooked up with CLLIt is only a pilot project costing 15 million to get going, not a full SAGD operation that would cost 200-250 million to get going and produce 10000 barrels a day. 2000 barrels a day would get you money loaned to you from a bank and not have to dilute the stock further. You are right 2000 is better than nothing. Do the math 2000 x 50$ a barrel is 100000 a day coming in. 7 days a week is 700000 per week, times 4 weeks in a month is 2,800,000 a month, times 12 is 33600000 in one year. That gives you alot of options for funding a large SAGD operation. Even if you leverage that money times 6 gives you 202,000,000 dollars. Almost enough to fully fund a large scale project, not having included any revenue from conventional oil production or natural gas wells in the farm-in. Things look OK. Still have money in bank and maybe oil will rise in the next year to at least 50-60 a barrel.
P.S. - How about today? High of .15c, volume of 600,000. Buy now, not next week. Double coming soon.
Toonboy