.

I thought they needed close to a $billion to get up and running 100%?

We will see what the market think on Tuesday ?
Have the company just raised enough funds until a takeover or a jv comes along.

Must confess have not followed this company much in the last year or so, with reading. Anyone know what this EWT is? Is it the current drilling program ?

Just wonder how many investors are sitting with a sp of £2, £3 + just waiting to get out. Im one.

i don't but i'ld be out even at £2 with a handsome profit

EWT some sort of flow rate results ? Good for you cynic.

http://tmx.quotemedia.com/article.php?newsid=50082545&qm_symbol=XEL

Extended well tests
DECC may authorise extended periods of test production (extended well tests – EWT) from exploration or appraisal wells prior to development approval if it can be demonstrated the licensee will thereby gain technical understanding or confidence in the performance of the field needed to progress towards a development.

The EWT should have realistic and definable appraisal objectives essential to the success of a development, and not be prejudicial to ultimate recovery. There is no strict criteria governing the maximum volume to be produced or the duration of an EWT, although duration is not usually expected to extend beyond 90 days. Duration may be extended if there is technical justification but please note EWTs are not an alternative to production under an approved development plan.

There is no obligation to proceed with development following an EWT. EWT consent requires a formal letter of application that sets out the timetable and objectives of the test and quantities of oil and gas to be produced and saved or flared/vented. If oil and gas is to be saved during the EWT, a field determination may be required for the field in question. Throughout the test the operator should submit to DECC monthly oil, gas and water production figures. Please email these at the end of each month to david.roberts@decc.gsi.gov.uk

looks like the 50m is not enough then?

crazy sp, topped up today.

you're the one that's mad ..... markets looking very nasty now

If the sp drops to 50p im mad, more mad that i was sitting on an average of £3.28.
Only have a handful of these.

is that with or without fingers?

lol. not a nice day.

£3.28!!! sorry to hear that dc - be a while to see that again imo if ever tbh - glad you havent got many - personally going to wait a bit here

Only averaging down, dare I say it to jump ship.

http://www.moneyam.com/action/news/showArticle?id=4346550

dc - avg down sounds like a good option - i hope you get the lowest possible to help out your situation here

Thanks gibby , may make a few bob then.

£1.98 average now,not to bad.

seems to be moving.