"On the other hand- sitting idle until exactly $2 million is reached, might leave us dead in the water for such a long time that that too might prove fatal."

I respect you conclusion, HKipp, but I can't exactly agree. I think the terms of the offering would suggest that if the full 2 million is not in hand by the end of the second extention, the company may begin some level of drilling, be that 6 or 8 holes, or whatever, and hope that results will bring in addition funds at higher prices later. Meanwhile, it's better to raise all that can be raised during this period as it lowers risk.

I say this because I read the initial offering to mean drilling would happen in up 4 months, OR as soon as 2 million is raised. In other words, I did not read the offering as meaning drilling will not happen without two million dollars.

JMHO, and I do try to think like an attorney, having far too many of them in the family.

VP