RE:RE:RE:RE:Dirksidetrack Recent Posts My thought is that if they hope to stay on as a non operating partner they still want to bring expertise to the table to help inform development options and decisions. It appears his background skews heavily towards drilling operations, which will be helpful for development well design/execution, but less so for facility construction/installation.
If their hope is to develop themselves, they'll need to grow the team a lot more, and as you mentioned secure more funding. The easiest solution to this for small companies is to farm out or dilute further. Post discovery (if there is one) value in the block will skyrocket because it'll be heavily derisked. Finding a larger JV partner that intends to operate a facility will be much easier at that point. I'd still be shocked if a discovery ended with them actually operating the field.