Strong Buy
Re: Speculation down to the wire....
Agreed. The right private placement with one or more of Sergei's contacts could bring us another Blackrock moment while holding on to 80%.
I think people may be underestimating the combined expertise of HDM & PACD and their ability to knock down a couple ultra deepwater wells in relatively simple formations.
A reputable operator brings immediate confidence (a big deal at this sp) and longer term capabilties which are contigent on success. Considering its probably 2 wells to prove success in our timeline, there is not a whole lot of risk sharing...failing with 50% and 80% yeilds the same results. But success with 80% gives Ray the abilty to farmout/fundraise much much higher.
It is an exciting time indeed.