EMP have been negotiating the best terms for a JV drill partner for many months. Carl is on record April this year confirming EMP will drill 'one well' before 08/2023, announcing an event for 16 months in time. The specific terms he mentions they're negotiating are fully funded drill + reimbursements for costs to date.
9 months on from that announcement + 9 months before the well one drill (8/23) + rigs are at 12 month booking schedule.
EMP are a ticking time bomb for a major JV announcement which have been negotiating behind the scenes for months.
Carl quote from April 2022 "our models have been through the ringer of many larger companies and found no fault". Great to see the JV's looking through the financials 12+ months out to have this rig booked and ready to drill.
Bring on JV partner announcement... Bring on drilling of well one within 9 months.
Buy Early, Sell on Spud, or Hold for the Life Changer
EMP have been negotiating the best terms for a JV drill partner...
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