RE: Myn28 Oct 2016 12:07
What the placing enables them to do:
''With this raise under our belt, we can move rapidly towards creating a five to six well operation. So, in just three months since joining Mayan in September 2016, we will have moved from being an a one well exploration and development play, to a five to six well producer and, with the costs cuts the Company has introduced, we are poised to generate sustainable cash flow to cover our operational needs. As well as increasing our production, an additional benefit of this investment is that we will also reduce our operational risks in terms of our overall sensitivity to the performance of any given well.
“We now have the fire power to really push ahead, and more than ever, I am focussed on our game plan. The new wells represent a very achievable milestone, following which we will really be on the way to exploiting the considerable potential to add value I see in Shoats, which include additional lease acquisition, as well as re-entry and new drill opportunities. I am also looking forward to reporting on progress in achieving our plans to monetise some of our non-core assets, and then our plans for Mexico. The many opportunities associated with that country’s energy reforms, still remains central to our long term vision for Mayan.''
nb: 'So, in just three months since joining Mayan in September 2016, we will have moved from being an a one well exploration and development play, to a five to six well producer'
Surely good news for long term/future growth...........?