Why so down JW?There's a reason for everything JW... and so too for my erroneous musings... in this instance my errors have provided you an opportunity to offer the lurkers and readers a recap of the specifics of SNV's JV arrangements in Iraq. HOWEVER I still take exception to your 4 month overdue position on the drill hitting the ground... the "GUIDANCE" was that contracts should be in place... I would suggest that had the original forecast for an executed agreement been met that the drill would still not be turning before Late October... I would suppose that the majority of oil field exploration in Iraq would take place in the "cooler" months.. cooler being relative and I am only hypothesizing given my complete lack of knowledge in regard to Iraq's climate... In any case BY my estimate SNV managment is managing the calendar as much as they are their planned deliniation of Iraqi assets.
Drilling 3 shallow OIl wells within 2 months (October through early December) is hardly a challenge and it would give an engineering firm time enough to extrapolate the drilling data and cross reference the interpretation of any existing seismic data to offer an initial reserve report... whether that report becomes public before or after the new year... I imagine, will depend on which way the tax man is going to blow SNV share holders... Personally I would like to see the news after the 1st OF THE YEAR... between NOW and then it's all an exercise in patience...
GLTA... thanks for the input JW...
as always do your own DD