GREY:CUDBF - Post by User
Comment by
m8magicon Nov 04, 2014 10:12pm
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Post# 23095557
RE:RE:What really matters now
RE:RE:What really matters nowanyones guess..
The Company is in the process of obtaining the necessary permits, licenses and securing a drilling rig for the planned drilling at J5 Milton, and should be in a position to spud the earning well on the contiguous property on or before October 31. If the Company is not able to spud the well by then, the Company must pay $50,000 to the property owner as an advance against the 6% gross overriding royalty ultimately payable on production from the property and will have until February 28, 2015 to spud the well.
Read more at https://www.stockhouse.com/news/press-releases/2014/10/08/petro-one-private-placements-closed-preparations-for-drilling-commenced#9HjsvzqC1sb4XuvK.99