Drilling project funding is only awarded to that drilling which tests a new concept or significantly advances the geological knowledge for the state's geologic survey. Companies exploring stock standard prospects don't get funding. Of course, it is up to the imagination of the funding applicant to write up their targets in a light that suggests one of these aims - and that's often done. Funding comes with fairly onerous responsibilities, including provision of core/samples and all hole data (assays, geologic logs, wireline logs, etc) to the government for public release, and committing to 50% of the costs. Not a show stopper, by any means, but I know of companies that just don't think the administrative hassle is worth it.
CVS is in negotiation for a CR, as they have announced 15 Nov. Haven't heard how this is progressing - arduously I suspect, given there has been no announcement yet. Given proximity to XM, there certainly wouldn't be one in the next few weeks, imo.
CVS Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
