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19:44
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Originally posted by BillOM:
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I agree, but a little more optimistic on production value. With 15 producing wells, they will have accumulated around $15 mil. There wont be much of the $4 mil left. Operation costs will have soaked it up. Income from production will be used in this quarter to complete each well. I'd say one each month to allow additional production to fund operating costs and to keep the bankruptcy at bay. There will be negotiations happening in the background. What that is, is anybody's guess. I said quite some time ago that this is going to end up in US shareholders hands. Unfortunately that appears to be the writing on the wall. Hopefully there is some hope for us to recover some of the cost of getting into this whole. Small shareholders just don't seem to have a chance nowadays with all the corporate shenanigans that go on nowadays.
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I think you are dreaming one well each month they would probably cost $8 m instead of the $5 m all at the same time.
