IRGS crowd funding update..17 May 2015 02:35
So good afternoon Ian, hows the crowd funding equity raise going so far? & have you any ideas when the rig might be scheduled for the SHANNON drill? 'afternoon John it's been a very encouraging week up to now but we can't speculate on any figures regarding the £3m cash raise as it's being dealt with through Dar..er I mean primary bids & we won't know till later this month' ok Ian so your feeling confident about the placing then 'yes were all very excited about the SHANNON prospect, we've spent £20,000,000 in 5 years so far on the PUKA area & have drilled holes, shot 2D & 3D seimic & this has helped us define this new prospect SHANNON' Ahhhh I see, so what would you advise investors to do if they had any spare cash? Would you be recommending them to load up at under a penny, in the open market, or would you you say to hell with that & recommend them to participate in the crowd funding opportunity, at over a penny, to raise £3m for, ahem working capital & the SHANNON drill which is flavour of the month but no rig date available so to speak 'well the waihapa field adjacent to our acreage is producing up to 10,000 barrels a day & the chance of success is 20% due to all the work we have done & the DOUGLAS well has been looked at again plus there's limestone' This sounds very positive Ian how do you propose to spend the summer in Westminster? are you looking forward to wandering round Soho drinking in the bars & clip joints or will you be busy, looking to do something more constructive & proactive to 'create shareholder value' which you mention so often in the RNS releases..
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