RE: 2011 Defining Year for LFDThings I'd like to ask at the conference... why are they required to pay a 40% royalty when almost all of the others
pay only a 10% royalty ? With a 40% working interest, their return is severely reduced.
With spud apparently 4 months away, why are they in a negative working capital position ? If I remember correctly,
they are required to spend 75% of the costs ? How can you negotiate contracts without showing how to pay for it ?
Do they have previous experience as operators as the geology has proven tremendously difficult for all who've tried ?