TSXV:ART.H - Post by User
Post by
justin_a_lyesseon Apr 09, 2010 1:33pm
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Post# 16975196
Results as early as July/August
Results as early as July/AugustFrom the report:
Exploration set to commence in early-April. The first exploration well is expected to be drilled to a depth of ~4,000 metres and will take roughly 100 days at a cost of US$30 million-US$35 million, barring any unforeseen delays. Well site construction is currently underway and a 2,000 hp drilling rig has been contracted to drill the well, leaving the consortium with the option to drill an additional three wells thereafter. In our view, results from the first exploration could be seen as early as July/August – the single biggest catalyst in the near term for Vast.
Not exactly the November 2010 timeframe that G40 is predicting!
This will be an interesting summer!