Makes sense but why are we not closing up shop & keep funds we have, Will probably run out of cash again and more dilution so unless company closes up and waits and does a deal at the right time shareholders will continue to suffer. Just my opinion but seems to make sense to me & hard to know if worth buying if continues to burn cash & has to issue more shares to stay going.
You have hit the nail on the head Bear....Investing in AIM oil exploration companies is a form of gambling in a way: betting on the success of drills and the ability of the company to bring the oil or gas to market, either alone or in partnership with a major. Even the petroleum geologists can get things wrong and a highly prospective drill can turn up to be a duster ! At least in this case the oil has been found (6 successful drills down the years)....so it's all down to being patient and waiting for a development partner to step up to the plate.
A "cheeky top up" is commendable but, to be honest, we are all betting on Black or Red. If Barryroe ever gets developed and I'm 90% sure it will we're all laughing. I think future Irish Energy Security is what will make Barryroe attractive whatever previously interested farm-in partners thought. And, of course, we are assured by PVR there is current interest.
Well spotted. Research suggests this will go to 10.5p once Barry roe farm out is sorted. The Helvick marginal field is a handy little asset as well. Just a bit more patience required for it all to gell.
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