GREY:ENGFF - Post by User
Comment by
steadfaston Jul 20, 2010 9:23am
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Post# 17281092
RE: results kunene #1
RE: results kunene #1The fifthelement:
Thank you for sharing your info. It is greatly appreciated. At some point in time we will learn the results
of Kunene #1, we have waited almost 2 years. Investors have had a golden opportunity to accumulate
during this period.
I totally agree with your Vision. Jeff has 2 choices:
1. Wait for sp to pop and do a PP OR
2. Farm out a portion of the Congo
Actually, I can see both happening. $6M will not go far when he has to pay the Seismic bill, have
funds to drill in Congo and have funds for 10% of the costs of 1711 work program.
I am sure those of us who have been long term shareholders are convinced the oil is sitting waiting for
the drill to get thru the salt layer in 1711. 2011 could be a great year. The market usually anticipates
6-9 months in advance, so we should soon see momentum building. If the news could get the sp to $1+
he could do a PP for $20M and have funds for both projects. We know it cost $130M for 1711.
How much do you think it will cost to drill one well in The Congo? I certainly expect it is going to cost
more than the numbers originally tossed around.
Please keep sharing.