As I can gather, my understanding as to why Futs barge isn't being used as yet is that Sanchez has come on board as the other owner (25% FUT, 25% PYM, 50% Sanchez) the owner ship was finalized in November 2010. With any new agreement between oil & gas companies there are many contracts to sign off, barge use agreement, operating agreement & an AMI (area of mutual agreement), I'm sure there's more. So FUT would not be able to use their barge until all is agreed and signed.
This is purely an educated opinion from researching this industry for decades.
The majority of the thousands of oil & gas companies around the world are hit & miss. And everything takes time. This isn't an excuse its just reality. We have "missed" alot, and Im in the same boat as most investors, I do still think 2011 will be a positive year for FUT.
SJB
life, page-95
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