RE: GRH on X15 Jun 2024 16:51
Hi Zebra,
Imo you are quite correct to note this development as significant.
Some of us have long suggested a strong preference for prioritising cash flow, enabling future drilling to be funded without further equity dilution.
Having established circa 50mmcf per day, future drilling becomes a low risk event for shareholders with significant upside, rather than a boom or bust moment for the SP, which subsequently requires yet another round of dilution.
Imo the statement you highlight shows the company's intent, namely a drilling campaign. It does not appear that the company expects to have its asset snatched away the moment the bit touches the dirt as others have proclaimed.
You may also have noted these words penned by PG in the recent update:
"The public markets rarely give value to medium and longer term business development plans"
If these words sound familiar it is likely because you have heard them before from the much maligned Jimmy23.
Unfortunately Jimmy's objectivity is unpalatable to a zealot, and so he has been dismissed by many as a troublemaker, or worse.
Some would doubtless rather listen to bombastic statements, but imo, dispassionate objectivity should not become a victim of grandiose rhetoric, however heartening it may be.