RE:RE:RE:Plenty of catalysts Depends how you look at it. As I understand it we need $7.5m to see us through the drill on block 1.
You could:-
a) Raise $10m by a cap raise in the near future of 20m shares at 50c or possibly even better than that if the SP keeps rising.
or
b) Farm out 15% of 2B for around the same price ($10M). (that figure is a complete guess by the way before anyone pulls me up on it)
By doing so you are potentially giving away 15% of a possible 717M barrels or 107M barrels of oil. If proven the going rate for proven barrels of oil when booked ranges between $14 to $20 a barrel.
Myself , I'm in freddahi 's camp. After watching what happened to the SP after the Premier farm out , I don't think the market will thank us much for selling off more of our assets. I personally would rather see a cap raise at some point at 50c plus.
AIMHO
C