Risk, I agree with you about 15-45 bbls/day not being enough to justify the investment.

At today's record high on oil, $139.49, if we assume a net back after royalties and op costs of $105/bbl, and 30 bbls/day, that's $94,500 per month for the shallow wells, or about a payout in 12 months. Not bad, but not great. Not Elephants.

With that rate of return, the borrowing or share dilution required to secure $20-$30 million won't make sense.