Antrim Energy Inc. ATGYF

RE: Farmout = Expensive well at no cost

[energee]

Every well has technical and geological risk and these wells are expensive. When you own/hold the land/permit/license, as AEN does (which I think they paid zero for - other than a commitment to spend some $$) a farmout is a great way to create value and preserve capital for other projects. I have done my research and that has been their game plan for quite a while. North Sea projects got kicked in the teeth a few months ago when the UK increased the tax on profits by a full 12% so getting a well commitment is a good thing. It doesn't change the share count, de-risks a project (assuming success) and we move forward. I owned this stock when it was $8.00 a number of years ago and I have a good memory.