EXPM:JNEXF - Post by User
Post by
BigBenon Jun 21, 2017 6:05pm
362 Views
Post# 26389919
Annual General Meeting
Annual General Meeting J-Y Lavoie and Mathieu Lavoie gave me good answer to my questions.
Yes galt #6 will be drill this year!!!.but they don't want to touch the current reserve fund for the drilling...so I guess they searching for some financing
Galt #7 will probabably (high %) be drill from the same pad than #6 but with a different direction
Galt#5 no good without frack and they won't do any work on it before #6 and #7
For the exploration permits, everything is in order for the paper work.They don't seem bothered by the delay either. They said it take usually 4 month to get a drilling permit and that the government hasn't emit a production license for more than a decade...
Galt exploitation numbers
production cost 23$cad
5 wells a year (not more) -- 30 totals
cost of the well 3 millions
18 month of production to pay for the well
GLA