I have been stunned to read an ad from an energy marketing company (Envoi) in Europe who are advertising on behalf of PVE for a joint venture partner to drill Fantuzzi-1 well for an undisclosed percentage of the project. The drilling is to occur in Q4 of 2009/Q1 of 2010. The cost is to be 5 million Euro for a well tested and completed (or 3.5 million Euro for a dry well).
At a time when the cash flow is about ready to begin (in October) why would they wait until now to do something like this?
Is it to spread risk or do they have plans to spend the expected cash flow on something else that we don't know about yet?
what is the company not telling us?
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