RE:RE:11 new BBI wells licensed in the past few daysMoonman1234 wrote: This is the first I am hearing of new wells. I didn't see any mention in the company presentation, or in a recent interview with Garth. Eleven wells @ 4-5mm per well is more $$ than the company indicates it has access to....18mm cash (?)...20mm credit facility. anyone have any thoughts, besides jd of course.
Those are 'licenced' wells, which means the company is simply preparing for the future. Some may not be drilled until next year, when we have the cash flow to pay for them.