Fun fact: back in 2008 (ish), with Brent heading to over 140...

Fun fact: back in 2008 (ish), with Brent heading to over 140 (and remaining above 100), Blade Petroleum submitted to the DOE a POD (this is the first one, but in total they revised at least twice, could be three) costing 100 million bucks. It was approved. Of course it has to be disclosed that Blade were going to use a related party to manage the drilling. But even CADCO had a similar POD costing (also using a related party for the bulk of services). Meaning....a budget of USD 55 or 60 million may be a pipe dream now. Could be closer to 75 or even 80. Unfortunately we will not know unless the question about submission of the SGC application is asked, specifically if they have in fact submitted an application (which includes, technical (POD) and financial (cash) criteria). This will give us an idea of time to spudding. If that approval from the DOE is still undergoing evaluation then drilling this year is the real pipe dream.