GREY:ARWJF - Post by User
Comment by
davproon May 24, 2013 1:20pm
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Post# 21437674
RE: will Aroway need to go to the market at these
RE: will Aroway need to go to the market at these Exactly... He doesn't rule it out.
However he also says in the same article that he refuses to drill exploration wells (40-50% success rate) from bank debt due to the risk. He prefers instead to use equity which is pruident. Anyway as we saw last year, there can be compelling reasons for wanting to go the financiang route for both acquisition and drilling purposes. I think however we are really just speculating here, It would appear that there is enough cash on hand to more fully develop the large pool and if they concentrate on that then they may be able to forestall an early financing... perhaps by enough time for any success there to generate a higher share price at which point another flow through share offerring might be welcome. Anyway as I said before it will be a lot clearer when we see the forthcoming financials.