RE: SP Progress12 Jan 2021 12:22
People talking about this latest raise today and saying why would the ii invest if we didn’t have oil?
They had already signed the deal back in mid December so at that point had no idea of the oil status. The recent raise today (put) was in BPC’s control. The Call will be the ii putting in the extra cash using their discretion.
As I have said previously, having taken this funding option today we either have oil or the board are knowingly leading us into bankruptcy.
I have to assume the board are making decisions in the company’s best interest so this means we have found oil.