RE: Thoughts??? Hey Goldboyz,
Well it is a possibility that they would do another PP but why now? They just closed one early January for $6 million with $1 warrants and now they're gonna do another at $1.20? Whats the rush and right after the no material change release kills the stock momentum. They have already greased the brokers with the latest PP and they still have the GUY estimate to come out. I would think they can wait until that comes out to raise more money. If its even close to the last one they are close to 15 billion barrels at P50 so one would think a share price of $2 would be very conservative. I think if GUY is 5 billion or over they will be solidly in the drivers seat when it comes to negotiating the next PP terms! As many have said the guys in London are stunned this isn't already well north of 2 dollars. My belief is that they are holding it back now so that when the GUY estimate comes out and if its similiar to the last one then they let it run to $2-$2.50 and then do a PP at say $2-2.25 with $3-3.50 warrants for say 15 million units and raise @$30 million. They end up with 75 million out about 90 million fully diluted with another $30 million on the warrants. If they get to CGX and Agrica Oil status once the 3D seismic is in then we would have a $5 dollar stock with alot of very happy investors! Also if all warrants exercised still have about $30 million in the treasury as our share of seismic wouldn't cost more than $30 million. If they hadn't slowed the stock this week and it was above $2 none of this could take place as the GUY release if it was another multi billion barrel prospect would cause the stock to take off way too much and no one would do a financing at such highly inflated prices. I agree the stock has been held back but don't think the next PP will be done so cheaply as it would only be 20-30% percent above the last PP warrant price. I for one would wait for the GUY news before doing any more financings but we will see what the next couple of weeks bring and what exactly the plan was. Either way if GUY is another multi billion prospect then this stock is going way higher in the next few weeks and we all do very well! Aimo
Longrider