waiting game, page-7

Quote from ann 7 July 2016 "OEL exercises option to participate in Biv Pk"

"...Additional geological and geophysical work will be undertaken by the joint venture prior to drilling of the first well, which is presently targeted for early 2017."

From the Metgasco farmin ann 22 Sept 2016

"The initial well is expected to be spudded in either Q1 or early Q2 of 2017 and will test multiple stacked amplitude channel sand targets."

Drill option for Biv Pk in the Sept Good Oil Con preso is mapped to be 2Q 2017, so anywhere between April and June I suppose, if that preso is accurate.

Drilling costs for the first well are estimated at US$10.0 million.

OEL drilling costs on Biv Pk 60% (capped at US$6m).

Metgasco drilling costs 13.33% (capped at US$1.333m)

Funding for BYE?......had US$3m cash as at 30 Sept.

Even though Metgasco will pay 13.33% of drilling costs on first well at Biv Pk, I think BYE will still need more cash by drilling time next year, not even taking into account any other commitments they have.