viking energy 2 in liquidation ?, page-20

Sid,

I rather concentrate on what can realistically go wrong, and at this point it is Viking pull out.

I really do see Viking as the solution, and pretty well the only solution.

I dont know much about either Viking or Albers other than Viking seems to have put up $50 million into projects before. Nexus energy in 2009 and now its seems maybe Sendo in Tunisia - but they may also be pulling out of those negotiations. And maybe our Cadloa.

Does Albers have that sort of backing? I dont know, but I seriously doubt it. Putting in $3 million is nothing like taking the risk of $50 million on a development well. Those kind of investors are like hens teeth.

From my understanding the problem with Cadloe is, on it own, it is too small. They need a second stage of development, possibly Bonita. That way they may get some sort of economies of scale eg use the same production infrastructure from a nearby oil find.

If I was Viking, I would be exploring Bonita and other nearby areas before committing to Cadloe. That would be more reassuring.

PS Wouldnt mind see the sp drop so I could use up this weeks wages.