Bull you wrote in your last post "I won't bore you with any more details". I don't think the correct word is "bore". I would have used the word "upset". Do you feel your dollars have been put to good use so far or do shareholders need to get higher powers involved and I'm not talking about praying to the man upstairs! Let me ask a few logistical questions and no need for answers. I just want to get the message out but for those in the business; feel free to answer.
1) When an E&P oil company purchases a lease; don't they run inspections and make a list of repairs, upgrade, labor and oil flow projections for each reworked well and before the lease is purchased? Don't they put percentages to these reworks and start with the more favorable reworks?
2) Wouldn't that company use public funding i.e. "our funding" to procure the inspections, permits, parts, and "correct amount of manpower" and create a schedule for each well while knowing exactly the costs and timeline to repair? Where did all the public funding go and why the need for a $2.1mm private funding?
3) Based on the funding; wouldn't that company have budgeted for enough manpower based on the projected schedules i.e. a) mechanics b) supervisor of cost and schedule c) runners.
4) How many men do we have on the Brown lease doing reworks and why does a shareholder need to physically help with the labor? I just hope it is more voluntary of the shareholder and not necessary. If it's necessitated then something is very wrong!
I really hope that any lack of manpower is quickly resolved. I don't want to hear anything about lack of funding! My invesment alone could have paid a years salary for a runner or better. If anything it's caused by mismanaged funds. TECO spent a large amount of funds on equipment and circling that equipment around the globe from the US to Belize and back. That was to drill two holes in 1.3 years! LOL! Then they start a drilling company LLC, decide not to go that route and then turn around again and hire a drilling company and back peddle into the LLC again and lease that same equipment. Keep in mind that their not leasing a skilled drilling team because if TECO hired skilled oil E&P personnel then they wouldn't require TNC. This Treaty Drilling LLC is only an equipment rental business to make back the money blown on drilling rigs and wireline equipment. Let's talk about trial and error with all our money! Then Reid has the nerve to pay himself back in shares for some related company which I assume to be PLFF? This bullchit about airports, refineries, etc is just that! Cripes they can't manage their core business never mind these so-called "related companies and big ideas". Where did all the money go?
