My take on things: Looks like HE8 doesn't intend to be an oil...

My take on things:

Looks like HE8 doesn't intend to be an oil producer per se.
More of a "...let's test/secure some land in an oil bearing region, throw a rig or two on it to show it produces, then sell the land to highest bidder"... essentially, they're property flippers. Nothing inherently wrong with that of course, just so long as I understand overall company mission.

Looks like they don't want to get into the capital expenditures of getting riggs going, employees and everything owning an oil producing company entails. I don't know how else to explain all the time spent on getting the third rig going and needing an extension to boot. There's literally thousands of rigs everywhere in west Texas and if I read correctly, it takes only 25 days avg to get one on the property, to producing.

That article that kegsy linked was an influence on my reasoning.
So looks to me this is the direction taken. If I'm wrong, or if my figures are wrong, let me know and I'll sit corrected.

Just ramblings of a simple shareholder with dreams of $100.00 share price in his eye. hee hee