RE:$$$ ;A second rig would be over leveraging at this early stage.
To start negotiating for a rig contract this early then have to committ to it would cost $$ that is not earmarked for the exploration wells yet.
They dont even have CF from the first well so lets not get ahead of ourselves.
The $40mm is for the 7 wells and investors bought into that business plan and lets see it work first.
I am sure he knows where other rigs can be accesed but no point having serious discusions with rig companies without having the wherewithall to write a contract.
And sure Art may say that is an option but I am sure he is concentrating on getting a successful few wells under his belt and cash in the bank.