CAPEXIt is not unusual in the oil & gas sector to have far more prospective land and drilling sites than there is available funding. NAL is no exception and along with the more than decent acreage they already have, they also have a farm-in agreement with BP. Perhaps they have been too conservative in issuing shares to beef up their balance sheet and increasing production. Two years in a row the stock was on a very nice run in winter and it could have netted them a hockey sock full of cash for development drilling if they had done a financing.