Everything was good, so why ???19 Nov 2018 18:50
East Denver Successfully delivered.
From 04/12/17 - Combined IP production rate of 1,771 BOEPD and increasing oil prises show a bright future for Highlands
17/11/17 - Share subscription raises £3.4 million
19/04/18 - First 4 months of ED production - income: US$3.8 million after subtracting taxes, royalties and partners’ interests through 31 March2018.
20/04/18 - East Denver Project Funded for a Further 6 Wells - Under the Agreement, Highlands receives an immediate payment of US$5.0million and retains a 7.5%
They were swimming in cash - for this money they could develop Kansas by themselves alone! They should have now at least 10 cheap Nitrogen wells drilled and flow tested easily. With so many wells tested business partners would be crawling to them by now with best possible deal.
This is just beyond me how they have wasted this. They've had already everything they needed to succeed.