Ringo is not Jacob Paine... I am Jacob Paine. Normally I only read what everyone writes, however, when the gossip starts to hit the fan, I must step in and clearify a few things.
1. The blow-out: The blow-out was a misfortune in the matter of the time it takes to clean the mess up, howevere our insurence is taking care of it, the only litigation with the insurence company is the cost it took to shut the well down which is not to extensive. Either way in the next 30 days we will have the location cleaned and rebuiult and ready for completion rig to complete the well(which has an additional potientially highly productive zone).
2. On the matter of the amount of interest Bedford owns in each well. It varies... between 10% to 45% depending on the risk of hitting a dry hole. For example; the Janssen- We own 10% of the deeping well, but due to it being a wildcat, however upon its success we own the acrage wholly so we can drill an offset and own own 100% of the production. - It is smart business. And the interest Ben was speaking of was the interest we bought back in and not the additional carried interest we own as well.
3. Bedford is in the process of acquiring an operating license, however it is not on our priority list, the operators we use specialize in the areas we drill. As well as work very close with us. Frankly - they work for us, we call the shots, and use their extensive knowlage of the area; without the liability. Again SMART BUSINESS.
FOR ANY QUESTIONS- FEEL FREE TO CONTACT ME-(405)601-9745. IT MAKES MORE SENSE THAN BELIEVING THIS INVESTOR GOSSIP COLUMN.
Bedford is a strong company and we are going to continue to grow and prosper, one reason no new news is due to us allowing the production to catch up to the aggresive drilling we did earlier this year- it makes sense not to spread ourselves out to thin. Very soon we will have news on production, an internal audit, and plans for future expansion.
P.S. - I once had an oppertunity was told to invest in Chesapeake Energy when it was at .55 cents, but due to rumors and gossip of bankruptcy I did not.... This is the time to be buying Bedford not selling..
Regards,
Jacob Paine