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So their reputation is shot, as the drill is not going to plan, was it fully 88e's decision to do unconventonal first then conventional or was it BEX?
Somone there needs to be taught a lesson in accounting, you can't keep on cash raising with no results, it is not viable as every time it happens you have to dilute more to get the same cash raised. Investors will lose patience. The only way is through the farming process.
Anyway, I really hope they do find the answers to the current problems this well is posing. :)
Well they had no experience with working in sub zero temperatures for a start, surely by doing conventional they will be familiarising themselves with the actual properties of the rock, not theoretical computer generated ideas, gaining reputation & with it the increase in share price, smaller cash raising would be needed, as the risk would have been lower and the price would be higher.
Tbh, I think their reputation has so far taken a big hit, reputation is pretty important in the oil business, hopefully they can salvage something from the experiment that is IW2, at least they have the results that maybe a company with more resourses & man power might work out how to make it work by knowing what didn't work.
to bash this share they've stopped doing it and just let DW anounce another RNS!
In all seriousness I find it difficult to see many positives in regards to moving the price in the positive direction until IW2 is either flowing or not and they decide on the next move.
This is why I've been surprised that they'd risk future cash injection & reputation by doing the hardest project first, rather than gaining experience, doing conventional plays first, using the money gained from that to fund unconventional.