plugged and abandoned , page-8

Calm down, old boy!!! Firstly, as I have informed you before, I am not a large holder..


Secondly, a few facts of life for your benefit..


As you so correctly point out, CTP HAD $15. mil. or so
in cash at bank AS AT END OF JUNE....

Now pay attention....Since then, 3 wells, totalling
some 93 days of drill rig utilisation have gone by..

For that privilege, CTP's portion of Rig costs,were between 77.5% for Simpson and 60% for the other two wells..

If a figure of, say, $200,000 per day was a reasonable Rig cost then $200000 x 93 x, say 65%=$12mil..

That does not allow/include for the Rig mob./demob costs NOR the expense of running the Company...

If you have a problem with the mathematics of the above, let us all know, old Boy...