Ann: Umiat Oil Field Purchase, page-48

@spinefx spot on. One thing most here need to know is that American oil patch folk are not dumbasses...theyre shrewd and super knowledgeable - 88E mgt are no where near in the same league as them. The yanks will leave the dregs for outsiders and they will steal your underpants from you without you noticing. The fact no one touched Umiat in years speaks volumes...its asking price is also telling you no one wants to pay a cent for it.

The only thing that makes Umiat potentially viable is success in the Peregrine prospects which will absolutely be needed to bankroll a pipeline.

I came into this for Winx (stupid decision on my part, but I thought if 88E mgt went for such a crazy deal, they must know what they're doing and that it would be a 100% find) and stayed for Charlie, (the 100% x 8 stacked prospects) and im still here because I've not dumped a heap of money into this and if the roulette wheel comes in, I can buy myself a boat trailer.

btw, the reason why no one has touched icewine thus far...it is crazy to chase unconventional oil and gas in a high operational cost province that hosts mammoth conventional fields. So one thing you cant criticise mgt for is that chasing conventional prospects in this part of the world - like Charlie and Peregrine makes sense. Fingers crossed.