Post by
sharktank401 on Oct 01, 2012 11:19am
Dragging their feet. Why?
From what I can see on the recent MDA these guys, as experienced as they are, are dragging their feet. They are obligated contractually to complete 15 holes by year end, and yet they haven't finished the first 8. They have 3 months to get the other 7 completed. They have put off their completion program until early fall. Again, why? Is it PNG? Are they consumed with negotiating more leases? They have cash, yet they haven't started the other 7 wells. They are staring at massive dilution in March with that $2.5 million payment in shares. The only way this makes any sense is if the heel dragging is being done on purpose for reasons that we don't know, ie. a sale, as was previously suggested. PS. If they were'nt drilling new wells, and the completion had been put off until early fall, why did they need $3 million in July? hmmm. Sharkey.
Comment by
ganja50 on Oct 03, 2012 12:39pm
There must be some kind of 'out' provision, whatever it is.
Comment by
ganja50 on Oct 04, 2012 12:28am
How about we get shares of Sandstorm and they get the whole project.