Guys i rang Barnaby today for a bit of an update,and im pleased to say he was very informative and told me he hopes to release an announcement to market this week or early next week regarding the Hawg Pen well in the lake project with production data included. He estimated it to flow 60bbls of oil per day in which FUT has a 25% interest in and thus able to self fund the other 10 or 11 wells that they plan to drill this year with an estimated 70% success rate. He also stated that heavy rains in the area have limited drill rigs and other equipment from being mobilised on site in past weeks,hence the delay in any updates. He also stated as some may know already,he just got back from the US Nape conference and was busy shaking hands etc and getting FUTs name out there. He also stated that he had talks with JP Morgan(his former employer) re future finance for FUT projects. Finally he expects the 2d seismic on Atocha to be not far away, i assume this is the Brian no2 well updip of Brian no1. All in all a very positive phonecall and he wishes he could buy at current levels. Ive just set a buy order so hang in there guys and if your at all curious just ring the bloke, very approachable. Cheers Xen
FUT Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
