GREY:CUDBF - Post by User
Post by
m8magicon Oct 08, 2014 9:42pm
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Post# 23012823
we might be later then earlier
we might be later then earlierThe Company is in the process of obtaining the necessary permits, licenses and securing a drilling rig for the planned drilling at J5 Milton, and should be in a position to spud the earning well on the contiguous property on or before October 31. If the Company is not able to spud the well by then, the Company must pay $50,000 to the property owner as an advance against the 6% gross overriding royalty ultimately payable on production from the property and will have until February 28, 2015 to spud the well.
Read more at https://www.stockhouse.com/news/press-releases/2014/10/08/petro-one-private-placements-closed-preparations-for-drilling-commenced#8HFXZ2BIW3w4maDS.99