Hi Kerry, I think the Falls Project is still in
Post# of 2009
Posted On: 02/04/2015 4:01:39 PM
Hi Kerry,
I think the Falls Project is still in play as this was in the 10Q for period ended 8/31/14 under Assets and Liabilities:
“Our primary financial resource is our base of unproven oil and gas leases. Our ability to fund our capital expenditure program is dependent upon the availability of capital resource financing. In this fiscal year, we planned on spending approximately $9,000,000 in new capital investments for the purchase of the Texas Falls oil and gas leases and the drilling of 23 new oil and gas wells on these leases. Factors such as changes in operating margins due to changes in the price of oil and gas and the availability of capital resources-- could increase or decrease our ultimate level of expenditures during the remaining fiscal year.”
IMO, with oil prices low, probably now is the time to acquire rights to the wells and wait until oil pricing increases to begin production.
I think the Falls Project is still in play as this was in the 10Q for period ended 8/31/14 under Assets and Liabilities:
“Our primary financial resource is our base of unproven oil and gas leases. Our ability to fund our capital expenditure program is dependent upon the availability of capital resource financing. In this fiscal year, we planned on spending approximately $9,000,000 in new capital investments for the purchase of the Texas Falls oil and gas leases and the drilling of 23 new oil and gas wells on these leases. Factors such as changes in operating margins due to changes in the price of oil and gas and the availability of capital resources-- could increase or decrease our ultimate level of expenditures during the remaining fiscal year.”
IMO, with oil prices low, probably now is the time to acquire rights to the wells and wait until oil pricing increases to begin production.
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