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Posted On: 08/14/2021 2:19:05 AM
Post# of 1020
I appreciate your pointing out some salient points about the 10Q, but what really got mt attention was your post about "converted into a 30 year lease - not license-if a commercial discovery is made ". So I decided to study the document with more seriousness. I did see that the current license is extended to Dec 2,2021. I didn't find your exact verbiage. I am not clear of the impact, if any, of a lease vs. a license. My first impression is that is not good.
It appears that the Israeli gocernment is going to require $750,000 ($500K initial+$250K for each each active drilling effort) for an environmental cleanup fund.
Their monthly burn rate of $600K when not drilling and $2500K when drilling wiill rapidly exhaust their current funds. The pps of their stock makes it difficult to continue to raise funds.
The impairment of $32M gives good insight on how much these drill activities cost.
Over all my impression is that they really need good news from current drill activity. I am expecting some type of report any day.
It appears that the Israeli gocernment is going to require $750,000 ($500K initial+$250K for each each active drilling effort) for an environmental cleanup fund.
Their monthly burn rate of $600K when not drilling and $2500K when drilling wiill rapidly exhaust their current funds. The pps of their stock makes it difficult to continue to raise funds.
The impairment of $32M gives good insight on how much these drill activities cost.
Over all my impression is that they really need good news from current drill activity. I am expecting some type of report any day.
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