RE: Waiting for Jeremy21 Nov 2022 11:14
Here's another corker from APRIL 2019!!
As previously disclosed, the Company is planning to use a combination of bank financing and own or partner equity to fund the first phase of development at Njonji, including the proposed NJOM3 well. The Company has for several months been discussing a loan facility with a prominent African bank, for the Njonji development of US$15 million which could be extended to US$50 million, and the Company is still hopeful that such a facility may be in place by mid-May. With or without such a facility, the Company has also been holding discussions with several possible partners for the Thali license, which the Company also hopes may be concluded in that time frame. Any one of these options, or a combination of them, could provide the additional funds required to complete the current well.
So 3 and a half years and a billion long lead items later we might have 'possibly' secured financing for 40% of the drill costs plus. Oh St Jeremy, may I be granteth similarily the reserves of patience thou hast, for they are surely broader and of greater depth than the reserves of petroleum containeth in the Rio del Ray basin!