RE:RE:RE:RE:ReminderPlease... allow me. First of all, I am not sure if you are trolling or what but there is a lot of misinformation here.. noone is saying we will hit 50k production in months and they are not bleeding cash - I am not sure where you are getting your data from (then again.. you are THTs chearleader..)
Let me bullet point..
- they stated a plan is to be presented and should be in full production in ~2 years. The current goal is to hit ~4000 BOPD - speculation to be verified is we will hit that in the 2 year mark as it will require new drilling
- existing wells do exist, and can likely be re-assessed and restarted, however the bopd was significantly less, but would at least allow cash flow in the interim. I do not know the exact number but it was a few hundred bopd (4-600bopd?)
- It is a massive land mass, with proven high output close by, which is likely where you are getting confused. The reserve report should not be much different from the last one a few years back just needs to be confirmed and re-assessed- it is a massive land mass where no oil is being pulled, so unless it is magically disappearing it should be close to the recent report
- part of the agreement is the partner will fund all costs for the first year, so they are not bleeding cash and will be cash positive by that time. (but will obviously have to pay them back, hence the 8.5c debentures as well)
- We currently have 25% with option for +24% after hitting milestones which is normal - our partner does not have oil experience we do so they are putting the expectations on us to produce and be rewarded for such.
- it is a 20 year contract.....
All of this information is available, read the news releases and data from the past 6-12 months. Sell of is likely falling into a few categories...
- .03c flippers making cash
- people cashing in warrants and profitting
- people having reservations due to being burned with budong budong - however, budong was never a sure thing, we had exploration rights - and it was always deemed high risk. this is a signed contract with high oil reserves that we just need to action.
All good comes in due time, question is who wants to get in on the ground floor