When I bought they had enough money to drill 2 wells now due to delays it looks like they will be out of money after their first well drilling. They said they had everything they needed initially but found the BOP was not of sufficient strength and had to get another one, I question their competancy on their procurement procedures. Then there was a delay dud to weather I also find that a little strange as could they not have put in a gravel track and laydown area and snowplowed it to keep it open?
TO me the sp reflects both the company's competancy and the potential for a dilutive cap raising. I guess we live in hope that the next seam or the one after has sufficient permeability, but guess due to depth it will be more expensive to develop with horizontal drilling.
TNP Price at posting:
1.3¢ Sentiment: None Disclosure: Held
