significant take aways from the 10K:
- CLNG, the company they reported selling 40,000,000 shares to at .15 ( $6,000,000) is now late on that payment , the payment has not occurred, but they are doing "due diligence" Hmm
- internal review and the log analysis conducted by eSeis, an independent geophysical and petrophysical consultant — , whas identified a section in the secondary objective, an upper Cenomanian channel (Cenomanian 03) located above the primary target formation that contained a five-meter interval with 17% porosity and 61% hydrocarbon saturation, which we believe is a petroleum discovery that implies the presence of commercially exploitable resources.
-On the basis of this discovery, on September 19, 2017, we applied to the government of Guinea for a two-year appraisal program. We are awaiting the decision of the Government of Guinea on our appraisal application. There can be no assurance that such application will be approved, or if it is, that it will be on terms acceptable to us. If the Government of Guinea does not approve our appraisal period application, the PSC will have terminated by its terms on September 21, 2017.
So , it's a 2 trick pony at this point.
If CLNG bails, and there's no funds, the Guinea appraisal decision is moot, there wont be any funds to do anything.
If CLNG is in, a slight murmur of a heartbeat and we're right back where we were 2 years ago with Ray looking for other investors to drill another well, and yada yada, we've all been here.
Story is not over, but does anyone even want to bother with the end?
