GREY:ENGFF - Post by User
Post by
wallywillon Mar 15, 2013 8:32pm
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Post# 21138351
Who do you trust?
Who do you trust? This IMO is the reason on why there has been no advancement in 1711. It seems that many on the board is hoping that the gas find was enough to bring in new partners. After 4+ years it should be painfully obvious that this is not the case. Why??? Remember who claimed the gas find. It was Sintez. Why would anyone believe them?? Jeff does not so why should anyone else?
Included in the proposed 2010 work program was a re entry of the well to test what Sintez claimed. Sintez refused to participate. In order to validate the gas find, the remaining JV partners would have to pay for all of the testing themselves.
There are doubts about Sintez's claims of the gas find. If the tight hole policy was still in effect or if the entire well data was not given to Namcor/ENG to present in the data room what did they have to show any interested company? Just rumors? Sorry its a tight hole?
As ENG shareholders we have no choice but to believe Jeff that new seismic over the Hartman area is the next best step and not hope that the russians claims is valid. That is the reason why 1711 is a hard sell to a new operator.