umiat oil field update no 4, page-26

Boofy,

No timeframe, as I can't predict the stupidity of shareholders or bondholders in providing more capital or debt into a sinking ship.

Umiat was dead from the start.

The oil assets are barely turning a coin in "real profit"... take out the capital costs, and it's also a drain. Didn't Bondy predict LNC would be cash flow positive by now last year? well what happened? and some of the more recent promises... Golden Concorde? what happened? Partners for Arckaringa? you know the ones that are fighting over each other to gain a slice?