Update
https://web.tmxmoney.com/article.php?newsid=62762706&qm_symbol=SXS
I beleive that PDQ has canceled their contract with Solimar Energy because Solimar energy does not have the money to fund it;s part of the contract. drilling a vertical well to the temblor formation can cost 6 million dollars. Rango energy spend approx 6.5 million to drill a well in the San Joaquin Valley of Central California. A shallow well drilled to a depth of approximately 3,500 feet can be done at an approximate cost of $600,000.
Solimar Energy has signed a drilling contract with Key Energy Services LLC to drill the second well (K 8-33) of the Phase I work program in the Kreyenhagen Heavy Oil Project.