Comment by stiffupperlipon Mar 10, 2025 2:34am
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Post# 36485892
RE:just starting review
RE:just starting reviewThey plan on reactivating a few existing wells by this summer - I don't see any issues as they mentioned several times they have the support of the local population and government. Apparently some preparatory work is being performed ... as we speak. I can't see any drilling this year but definately next year there will be wells drilled (assuming the geology holds up). The challenge this year is to raise around $ 2 MM for their workovers and reactivation of the existing producing shutin wells.Timing (with the Trump debacle) isn't good for raising funds as most everyone is in a 'wait and see' mode but let's see. Failing a raise they have opportunities to farmout a piece of their equity in the project.