jv executed, page-63

Iaquinita
"Is it correct to say that they could potentially have 2100 BOD then? "

And that is the problem. Based on expectation 18 months ago they should now have around 2000 BOPD but they dont.

They say only one third of wells are producing and this improve with more workover activity but if it was that simple they would have done it already.

What sensible persons(management) would drill new wells when 70% of current wells are offline. Ans - No one so their are much bigger problems here than the company is letting on.

Gulf have not yet put up any money. Maybe they want better terms or they have realised the deal is no good. Maybe Gulf cant raise the money.

Until the company puts out a update on this deal the share price will continue lower.

If Gulf walks away maybe the guru might get his 30 cents

The risks are now way too great to enter this stock unless youre looking for a very short term trade

Since Oct 4 the chart has done nothing but make lower lows and lower high's. A more classical downward trend would be hard to find.

If you want to step infront of this falling trend and hope to pick the bottom then you will deserve what you get.