Mart Resources Inc MAUXF

We Don't Need A Second Rig

[RaiderRoady]

The shallow horizontals can be drilled faster and produce at higher rates.

no issue, IMO.

[molymoney]

Well maybe so Raider , but i kinda figured the East and West targets might be deep with large casings and test time?? UMU 10 maybe takes 6 months when done and tested so i figure it could take a full year, especially if theydo a twin on the EAST side. On the West side i believe they go big casing on first hole based on our competitions well. The other thing depends on Midwestern LOL. We can afford

[oullins]

Moly, glad you brought up the pads.  Pads will take at least a couple of months each to build plus a month to cure. In my view they are more important than a second rig at this point.  A rig cost about $3M to $4M a month with the crew.  There is no way the partners will agree to a new rig right now.  I think they need the cash ahead of another event. No need to

[molymoney]

Oullins i guess i was hoping they were already working on these pads and the road to the East target LOL. On the rig rental , was thinking that we don't have to pay up front and only after 90 days and by then Midwestern had paid MMT more forward oil money. I guess it seems Midwestern doesn't have deep pockets or access to money to fast track the project. Depends on that Crude Handling