GREY:PENFF - Post by User
Comment by
statesideon Jan 26, 2012 11:32pm
188 Views
Post# 19455708
RE: RE: stateside
RE: RE: stateside Both Pennant and Blackbird were required to pay 37.5% of the wells which at $8 million amounts to $3 million per well for Pennant (see the original agreement last year). They also already paid for the costs of tieing in the wells which probably was another million. They'll need to do a PP and have it funded in the next 30 days - my guess at $.15 with a full warrant until such time that they can prove they can drill and play with the big boys. Not yet.
stateside