RE: RE: Drilling in June From what management has said is that money will go to drill the Barito blocks - thats where they have the exxon joint venture. If you look in presentation where they outline the assets the provide geological data and a resource calculator. I calculted the number for the exxon blocks and it was about 10 Tcf. So if they drill the exxon blocks and are successful with production, as that is their aim, then that should create a massive value increase. To get your $150 m you would value the gas at $0.015/Mcf against gas market market prices of over $6-10/Mcf. If they pull this off then dilution will not matter one iota.
The junior resource space is littered companies not willing to raise capital and get on with business because of dilutation fears. You know what is going to happen - these companies will either loose their leases or raise capital at even lower prices like Niko did.
Will the share price go up - thats up to the market to decide. If it does not and they find all that gas then someone is going to pick the company cheap and we will be sitting around with our tumbs up our butts saying - what happened.