my opinionsI agree with what Taxde posted and Eoim too. After reading the recent assessment
of the latest 260 % increase in reserved oil more than the initial estimate in 2009 by the independent copamy, I believe they must have seen the latest 2-d seismic report. Because the word incorprated ( 2-d seismic ) was used. To have a better picture of the formation you need a 3- d seismic report. Theis could be done roughtly if using 2-d seismic scan in another direction, the X- and Y directions , like a cross and then plot the formation of what is underneath. They mention about the distance covered is 300 kilometers which is about 6 times the distance of Montreal island running west to east,
and is equal to a distance of 3 hours drive by car. I missed some information. The July
,Sept warrants were held by management people or institutions and under what circumstances A? Can anyone help me to understand more about this. What if the sp is lower than the exercised price then I assume that the warrant is dead. In that case
we have less outstand shares but at the same time Lfd might need further financing.
My conclusion is : LFD has more reserved oil than the previous estimate, and it is a plus no matter what you think.