The company decided to wait until the right of way was granted before they made an application to drill the 12 wells on federal land. This was obviously done to reduce admin delay and was under legal advice to do so. I believe since they have been granted the right of way, a new initiative will be submitted to drill those additional wells, which shareholders will be updated in due course.
I wouldn't think it would take another 18 months to grant on federal land, however it is worth looking at the map on page 7 of the recent presentation to compare the lease size of state and federal land. I can sort of see why the market didn't really fall over it self when the right of way was granted. The real deal is the federal lease, once you get a permit for that then watch it go.
One thing i haven't confirmed is whether the 2.3 billion exploration target covers just the state lease only or also the federal lease !!?? can anyone confirm?
Here is a little potash news from last week, inventories have drop below the 5 year average, causing the potash price to increase.
