GREY:CUDBF - Post by User
Post by
speculatoron Nov 04, 2014 3:34pm
156 Views
Post# 23094099
Anybody knows if POP started drilling?
Anybody knows if POP started drilling?The company is in the process of obtaining the necessary permits and licences, 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 Oct. 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-per-cent gross overriding royalty ultimately payable on production from the property and will have until Feb. 28, 2015, to spud the well.