RE:RE:RE:Baby Headwater Yes a good growth opportunity for sure. I should have added that they have $60 million in cash from the recap issue and no debt yet so they have money to get things rolling.
Yes the Chronos sub receipts for the recap were issued at 0.7, but then each subscription receipt was exchanged for 20 Samoth shares and then subsequently converted to one Lycos share for 8 Samoth shares - a series of conversions which netted 2.5 Lycos shares for every original Chronos sub receipt. Hence the actual amount paid by those participating in the issue was 0.28 for each Lycos share (0.7/2.5).
Neil as a board member and investor is a significant draw. Everything he touches seems to turn to gold.
Bennys65 wrote: Thanks Riski Good info.wont take alot with a good drilling program to get to 3000.Public info says by spending 10 t0 15% more on multi laterals they get a 60% better production on legacy drilling.New warrants are at .55 and I think they raised money at .70 per unit.Headwater cfo is on its BOD.I am in and will add when the story developes.Got into hwx at 1.80.and bouht more last week as I think the news flow will be strong on march 9