Post by
Guytorule on Sep 11, 2024 8:17am
Facts Are ...Oil Exploration Block (None-Issue)
Their earn in agreement calls for $12 million (U.S.) dollars, thats roughly $16.5 million Canadian to be spent and to complete 4 exploration wells by end of this 2024 year end, thats 3 months away. How likely is that to happen. There's no confirmation by press release that they in fact completely their initial phase by spending $4 million last year in 2023 to fully complete those seismic obligations. They cannot afford to carry out those earn-obligations, they have no funds available, nor can they raise money in the markets. Just go back and look and see how long they took last June to fully complete that measly $2.7 million placement. IT TOOK OVER 2 MONTHS WITH 5 TRANCHES and were barely getting any interest from reputable institutions, only small insignificant retail investors. TCF has massive debt and losses, negative working Capital, no cash to speak in bank and vendors seeing them for money, in the millions. So let's be honey here, this is not a great position for this company financially to be in, after all thats happened here with these drastic production problems that still has not be completely resolved. So to keep bringing up this great oil prospect is misleading and any wise investors knows the truth here, once they do their due diligence. That's the true, and trying to exploit that oil block is dishonest at this time. Everyone involved in this company needs to Pray that things don't get worse with the gas field let only be talking oil exploration. That's the facts surrounding oil block, no longer has any merits and should be dismissed, especially at this time.