My takeThe only question for me is why was the offering dramatically increased just one day after the original. Seeing as there is some time required to arrange an offering in the first place this is unusual to happen so quickly. Most often an increase is announced many days after the original. The most likely explanation is that the demand to participate was so oversubscribed that an increase was arranged to take advantage. Other explanations are possible.
However to me the reason does not really matter. The company can now carry out an enormous drilling program and have tens of millions of extra dollars in hand for any eventuality. The resource will be expanded and the company will become more attractive accordingly.
The majors will have them on the radar and if things go well offers will follow. In the meantime any great holes will help the share price to appreciate.
I have been doing this for many years and have been on these billboards for around 20 years and have rarely seen such potential. ( I don't post much anymore because it is usually a waste of time )
But as usual this is just my take and do your own DD.