BONTAN CORP INC BNTNF

RE: It's starting to run with volume...

[ajootian]

The volume is great to see. I believe there is a high likelihood that they have now inked some deal that will provide funding for the LA well and are just waiting for a fresh week to start before putting out the news. Remember, you always want to put out blockbuster news on a Monday or Tuesday, so as to allow several consecutive trading days for the ensuing rally to run. Regarding actually getting a rig committed, I believe its a bit premature to be expecting news of that right now. Let's get the rig paid for first. Once you give your deposit to the drilling company they have as long as 90 days to get you a rig. They can tell you anything they want verbally, but the fine print of the contract says 90 days. Since rigs are so tight, especially rigs that are rated to go as deep as the one Bontan will need for this hole, most drilling companies are going right out to the limit allowed by the drilling contract before actually getting a rig on the property. So, since they haven't even cut the check for the deposit yet, the clock hasn't even started to tick yet. The Keystone guys (Bontan's partners in the well and the operators) are supposedly some big-time oil veterans, hopefully they have some connections to allow for fast-tracking this thing. Stay tuned, don't change that channel.