Post by
CatalystTrader on Oct 23, 2015 9:20am
Financing will be given IMO
With the connections you may very well be right . Now with production update . The bank will see all the numbers and give them the financing . They already have 50% in cash/equity
The UMU-14H well was successfully landed in the VIII sand and the horizontal section drilled to a total horizontal length of 1,000 feet. The well reached total depth of 9,280 feet (measured depth) on Aug. 10, 2015. Completion operations have been concluded and the drilling rig has been demobilized from the location. The initial cleanup and flow testing have yielded an initial flow of clean oil with no water cut. Detailed testing information will be released upon the conclusion of the testing program.
Comment by
Samdm on Oct 23, 2015 9:43am
The bidder will update ASAP not Nov 10th