cooper basin drilling cleared, page-11

I had a phone chat with Gray Roper MD of Audax today:

The Cooper drilling will likely be held up until the White Sands $8m IPO is completed. This looks to be mid Nov listing. Apparently they have an underwriter and documentation is ready.

Audax/EBR still have agreement to be first in the queue with the drill.

The rig is still waiting on modifications. Apparently it is not an oil & gas rig but can be modified. The delays on parts should not hold up Nov start.

All players pretty miffed with White Sands as IPO was not part of original arrangement.

I dont hold ADX but plan to some time in the near future...

acturtle