RE: RE: Is Bridge Resources bankrupt?I hear Mike Smith is a credible guy. if he is telling us he is going to do something, then rest assured he will follow through. I also understand that he has a ton of support from major investors both back east and here in Calgary who will support him through executing the following:
1) Stimulation program to boost deliverability (permits obtained last Monday)
2) Drill and compete well in section 3, immediately offsetting ML1-10
3) Sign contract with Williams, begin construction of gas gathering system, with commercial production in Q1 2011.
4) Obtain down-spacing approval from 640 to 160 acre spacing
I looked at PXM's financial statements and they do have cash to complete the above, the real question is does BUK have enough money as a JV partner and then will PXM make a cash call???