Hi Garyhansen, not sure you reported it there 100% correctly. SO here's how I understood the 28/08/2012 ann segment that you are concerned about: * positive results found in the Niobrara formation of the Pathfinder #1 Well * 'tight hole' confidentiality so the 'initial' logs cannot be revealed but overall resistivity on the money * comprehensive logs being sought from specific Niobrara formation within Pathfinder well #1 (will take 20 days+) * while they have 100 days to drill (their own policy - probably to keep costs within 500squared program) they have moved or 'skidded' the drill slightly on the same pad to target the general niobrara formation well area for well #2. This has reduced the cost of leaving the drill where it was on well #1 while 20 days of comprehensive logs are sought on the niobrara formation.
Summary: So they know through the initial logs that the Niobrara formation was generally promising (great) but do not know exact horizontal well placement location until specific comprehensive new logs are surveryed, quantified and analysed thoroughly ("engineering analysis"). Her they can fully maximise the usage of the drill on #2 while #1 is surveyed. They will then skid it back for Hori drilling to say $500k = smart if you ask me. No concerns here imho.
Please be aware this is my interpretation and feel free to add anything I may have missed in answering Gary's 'concerns'. Cheers - news imminent imo. Luck all :p
AKK Price at posting:
2.8¢ Sentiment: LT Buy Disclosure: Held
