Bridge Resources Corp V.BUK

Tinmann

[robcowie]

Tinmann,it is good to hear from you again.I always value your expertise on these companies.I  have question for you on the North Piper drill.In Blackmont  Capital lastest report on (BUK).They state that time is of the essence because Bridge has a window of opportunity to  secure  a semi-submerible rig from Chevron,assuming the company can commit to a rig by June15,2008.A payment of  approximately $7.2 million is required by the end of the month to honour the commitment.If they can secure the rig they could be drilling by next month.If somehow they cannot secure it in this time frame.The North Piper would not be able to be drill until winter.Do you think there is any possibility, that they will not be able to secure the rig in this short time frame for a summer program.

[Tinmann]

I don't think it'll be a problem... they do have a $20 million line of credit with Blackmont if they need to draw on it.Bridge is as keen to drill North Piper as anyone else.I suppose the downside case would be that you pay 2x cash flow and have to  wait a few extra months for Piper to be drilled.

[TO1]

April 17 NR."Bridge announces an anticipated spud date of its North Piper 15/11b-6 well on or about July 10, 2008. Bridge has entered into an agreement with Senergy Limited, a UK based drilling company, to drill the well using the Stena Spey semi-submersible rig." The Stena Spey rig currently spud a well, the Athena-18 well, for IAE on June 6 and operations are to take 50 days, weather

[2t3m]

Hi everyone!I use Robcowie latest post and I send it via email to the Big Chief. I got the answer:2t3mWe will drill as planned with a 25 pc cost and 50 pc Working Interest, estimated July 24 start.Thank you for your kind comments.Ed -----Original Message-----From: 2t3mDate: Fri, 13 Jun 2008 17:21:21 To:[e-mail]: Bravo for Durango! Bravo for Durango,