RE: RE: RE: For financing they have a solid multi It is my understanding that there was some seismic data available.. and that they were going to acquire additional data to pinpoint the optimal locations for this small (3 hole) deliniation program... The only reason to drill these wells is to create a 3 P reserve report and get some sense of the OOIP (Original Oil In Place). as it is right now they are working on a WAG (wild *ss guess) as to the actual reserves numbers... all they know for sure is that someone drilled a well a long time ago and bypassed an asphalt zone on tier way to a dry hole (?) that point requires some verification... whether the original well produced is an unknown to me... BUT there arer some solid examples of what a single well drilled along long time ago CAN mean to a Junior willing to pay for a stake in an unproven play...
As far as I am concerned... there are NOT many JR O&G explorers out there at the moment with as much glory to be had...or as much crash and burn potential... al it would take is for a piece of the rig to roll over an IED and *poof* we're waiting 6 months for parts...
this one is definitely caveat emptor... if you can't afford to loose it... spend it somewhere else...I hear a little company called fecebook is looking for investors maybe money is safer there?
as always it's my opinion git yer own...do as you choose BUT do your DD