Emilio, I agree that owning a drill rig may attract other JV partners and reduces the time to wait for a contract rig. However now you have a drill rig (that you have paid top dollar for) you have to keep it turning to warrant its purchase price, not only now through boom times but also in furture downturns. Also now you have a drill rig managment spend time on planning where its working next, chasing around for parts for those guarnteed breakdowns etc, taking your eye off the main game which is oil exploration and devlopment. To be honest i am a mining engineer and know it is not common in mining to own your own exploration drilling rig, maybe its a different scenario in the oil game. Either way i am a holder of caspian and and eagerly awaiting spudding late this week all going well.
CIG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
