GREY:CIMVF - Post by User
Comment by
Oilseekeron Dec 30, 2009 2:17pm
387 Views
Post# 16626795
RE: what happended here?
RE: what happended here?Under the arrangement, Batavia will act as the financial arm for the Batavia/USG exploration and development program,
providing 100% of the funding while USG will be Operator and will direct all aspects of the program including its formulation. Batavia and USG will each have 50% beneficial interest in lands acquired and all natural gas discovered
The initial phase of the program will involve geology, geophysics, land acquisition and drilling of up to 15 test holes. This program is anticipated to commence in the first quarter of 2010. Subsequent phases will involve exploration and development drilling, well tie-in and land acquisition. These phases are planned to commence within 12 months of the completion of the initial phase. In total, the first two years of exploration and development work will include up to
$5 million of expenditures
| |
| | PRICE* | CHANGE | % CHANGE | TIME | | Nymex Henry Hub Future | 5.78 | -.06 | -1.06 | 13:57 | | Henry Hub Spot | 6.01 | .11 | 1.86 | 12/29 | | New York City Gate Spot | 6.78 | -.30 | -4.24 | 12/29 | |
Under both drilling programs CQV will not need all that much money
Year of the Profit, Oilseeker