Post by
Lester on Jul 27, 2021 4:38pm
Re: Financing is very close
Here are my thoughts regarding current situation: 1) I am concerned that the financing has not been signed off by the appropriate Turkish ministry !! I live in South America, and delays like that often mean that the person who needs to sign off on the document requires some encouragement ($$). 2) Dr. Halleran has stated that he can finance in-house the first phase of drilling (2 proven discovered wells)...so as to start cashflow asap, but I don't think that revenue from warrant sales, existing cash on hand, and monthly oil revenue will be enough to complete the first phase. 3) Dr. Halleran has had a quite successful career as an oil geologist (founded Canacol in 2006) and has quite a bit of skin in the game. So, at this point, I cross my fingers and have faith in Dr. Halleran.
Comment by
SirJulius on Jul 28, 2021 11:28am
Am I missing something? Is there a Muslim holiday happening right now in Turkey that's holding up the financing? Eid al-Adha 2021 in Turkey began on Tuesday , July 20 and ended on Friday , July 23