RE: Capital raise2 Oct 2020 10:05
I'd be surprised once all the taps have been turned on that they don't have enough coming in to break even. Lot depends on 200 per day from Schlumb and what % Block retain from sales, so even at this low level we are susceptible to the price of oil. From recall Schlumb had Georgian tax payments written down on their books against sales but it didn't seem excessive, I'd assume the current agreement would be transferred once sale is complete, maybe our CEO could improve this?
So I'm not worried about Block as a going concern in the short term, its the medium to long term campaigns that will need financing for sure, but how??