RE:RE:RE:RE:new low 20centsAt the AGM, Art said the Nigerian plays did not require more money. They were options. It is just an investment of time of their people (although admittedly that would be burn of treasury monies on salary). But the point was, Nigeria was being pursued as an opportunity with no added cash outlay. So the company is in pretty good shape.
I also agree it looks more like Exxon will not be drilling until August and September. Q3 instead of H1. By a few months. Not a big deal. I will be taking more down at these levels.
Art mentioned at the AGM as well that he did part of that London private placement. And he would do more if they had to do another placement. So the guy is reinvesting in his own company a lot of money. He isn't just taking it out and leaving investors high and dry.
I like this play and if people are getting impatient and selling, I will be buying. The news is no different now than it was before. In fact, we are just closer to a drill date.