RE:Down 8.7% todayAMCO just gave them money and will continue to give them money until production, which is imminent.
Dilution is inevitable, but this isn't going under anytime soon. Oil prices will also rebound in the next year, given investment in new production is so low there won't be enough to meet future demand.
Even with debt and the fact they're not producing yet (that we'be been told), this is worth more than 22 million, and if they reach profitability shareholders will be laughing.