both that is true, but they have Bonita AND Cadlao to resolve.
Since RAI has backed down from legal proceedings, BLADE don't have to cough up anything$ in a hurry - they hold all the aces. I Certainly don't expect anymore than 6 mil cos that was BS peddled by RAI.
At a guess, BLADE won't pay anything direct to RAI, more likely give a credit towards VenturOil's share of drilling costs, still leaving RAI ~4 mil short, which BLADE will demand up front, or expect a JV termination with VenturOIL.
Remember, BLADE do not want OR need RAI for Cadlao, nor VenturOil for that matter - BLADE now have VIKING.
And Bonita, well, they RAI in denial, again.
Anyway, for me, South Block A is where it's at now, though in saying that this Albers money won't go far with these guys, won't surprise me if its spent before a drill gets struck.
RAI Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
