Here it says they have 5 wells already and expect to drill a vert and another hori subject to funding to retain under the CDC. A vert yes but hori not drilled. but extention with lessors consent needed. The extended leases surround our primary lease where our current wells are.
Wells 7 and 8 are already surveyed for drilling but not prepared yet for the drilling pad as the quarterly says.
I think the coy will want to try to keep the 5092 acres with the extension of the surrounding leases for a bit longer.
Into the fro of all this Im wondering how they are going to fund the other projects where they have a hand in.
Goliad, Drilled 1st half 2013, $3.5m to GGP, 10,800 ft vert with 2500 ft hori lateral.??? Arcadia To be drilled expected mid 2013, $3m fixed turnkey and completion to 11,500 ft ??? Jim Wells ( new)??? 25% stake
No cash for this sort of drilling as not enough for a PB vert of $1.5m
GGP Price at posting:
2.5¢ Sentiment: None Disclosure: Held
