OTCPK:WSRLF - Post by User
Post by
fruiscante1on Jun 01, 2010 8:25pm
934 Views
Post# 17148649
notes from AGM
notes from AGMI attended today. Here are a few notes that I took-
-planning for the third well has begun - Qulijan-1 will be spud this year (9-10 KM SW from current well)
-they are looking into a 2000 HP rig to drill it - a Sakson unit out of Egypt - same as Vast is using
-they believe they have enough cash for the third well
-80% of the insurance syndicate have approved their claim, remaining expected shortly
-there is a "slim risk" of abandoning the current well (quote from Simon Hatfield)
-if they have a discovery they can truck initially to a nearby pipeline, then tie in later
- they may or may not drill deeper in the current well, depending on what shape the well is in
-when asked to comment on the political situation in Iraq, Simon Hatfield said they the Kurds will be part of a new coalition government (that surprised me - how could he know? The Iraqis don't seem to know yet)