I'm believe PYM are still going ahead with drilling (first quarter of 2011) they had to get Tridimension Energy's bankruptcy resolved, which appears to be happening according to the market update on the 9th of november.
"On 18 October 2010 an Asset Purchase Agreement was lodged with the US Bankruptcy Court for the sale of TriDs oil and gas assets from a Houston based private oil and gas company.
The agreement draws closer the sale of TriD and potentially brings a new, more experienced and skilled, and better resourced partner into the Catahoula Lake project.
Due to the inability of TriD to fund its share of exploration and drilling costs and its subsequent Chapter 11 filing, exploration and drilling on the Catahoula Lake project has been hampered and only one well was drilled from the refurbished barge rig during the 2010 available drilling period."
"The Company is anticipating that approximately six wells will be drilled over the 2011 available period subject to favorable weather conditions."
FUT Price at posting:
0.2¢ Sentiment: LT Buy Disclosure: Held
