Pennant Energy Inc PENFF

stateside

[pennymaker69]

I think you have the cash issues. they raised millions of $. They only spent just over 1 Million on the well if you look at the MD&A. They still have millions left over for the other wells. They don't need to do a PP. All the costs of drilling 3 wells plus tie in is done. They raised all the money they need for this. Lets see what the cash flow is come April.

[mcv1]

Pennymaker, Better start making more pennies because PEN will need them to continue work I expect.  They were counting on success from this well to raise funds at higher levels but that didn't happen.  Stateside seems plugged in to this.  Listen to him.

[stateside]

I think you have the cash issues. they raised millions of $. They only spent just over 1 Million on the well if you look at the MD&A. They still have millions left over for the other wells. They don't need to do a PP. All the costs of drilling 3 wells plus tie in is done. They raised all the money they need for this. Lets see what the cash flow is come April. A poster here a few days ago

[stateside]

Both Pennant and Blackbird were required to pay 37.5% of the wells which at $8 million amounts to $3 million per well for Pennant (see the original agreement last year).  They also already paid for the costs of tieing in the wells which probably was another million.  They'll need to do a PP and have it funded in the next 30 days - my guess at $.15 with a full warrant until such