We've had a lot of good news now for a couple of w
Post# of 39368
We've had a lot of good news now for a couple of weeks, Belize may let us continue looking for oil, which would also be good, but we still need an operator's permit in Texas. C&C Petroleum needs to be operational; so what is the plan, what exactly needs to be done, and what will it cost. I'd be thrilled to see another drill spud in, but it would seem we are stepping away from the stripper well business and looking for fresh oil. And, don't forget we have two leases in play in Belize. Princess sold us half of their lease (which is where we have been drilling to date) and we sold Princess half of our concession that we bought from Barro's nephew ( where no drilling has occured to date and which concession was not involved in the recent litigation as far as I could tell); we could spud in there tomorrow, and our agreement requires us to be pursuing a commercial discovery in that concession (the second concession has a name but it slips my memory right now) too. If Louisiana is all stripper stuff, then it is only commercial if our costs of retrofitting the field are exceeded by the oil we are able to recover. And, once again, do we have an operator's license in Louisiana? Cash flow positive is the goal. Getting C&C back on its feet should be our second goal, finishing San Juan #3 should be our third goal ( and don't tellme we are trying to delineate the field, we are looking for a commercial discovery i.e. bopd). Everyone is obsessed with our TRRC numbers, but it seems a little irrelevant if we don't have the ability to produce oil in Texas going forward. This is not a plan, maybe a near term "to-do" list. I think Bull has a plan and possibly a spread sheet, I'd like to have a cup of coffee with you Bull and pick his brain a little (wouldn't take more than an hour) . Are you planning a trip to So. California soon? lol
Just thinking out loud. Oiljob