Longford Energy Inc V.LFD

Question?

[raybay_98]

Anyone know what the first well is going to cost and will LFD have to raise more $$$ (with this last PP, 60 million more shares + 30 million warranrs + present 144 million outstanding = 204 million outstanding at present not counting any warrants) ?
TIA

[coolrunning]

I think your answer is in the prospectus:The Corporation intends to use approximately $11,600,000 of the net proceeds of the Offering to fund its share of the cost to drill the first exploration well, CS-10, on the Chia Surkh Block in the Kurdistan Regionof Iraq; approximately $300,000 of the net proceeds will be spent on the Corporation’s annual share of PSCcosts; and approximately $1,900,000

[raybay_98]

Tks. With the CS-10 well having a high probabilty of being a producer and no problem to hooking up to the export market, the cashflow from this well should be suffient to fund most exploration going forward. All in all, this stock appears to be extremely under valued.JMHO