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Monday, March 09, 2015 3:19:26 PM
I have a more positive look on things:
- there is the drill requirement before july
- there is the 5 well drill requirement stipulated in the farm out yet to be completed
- the 3 million from perseville pays for 2 wells, Perseville will fund the 5 well drill program resulting a 41% ownership for TGC
See all sec filings and the TGC presentation for the facts.
You also seem to be afraid that nothing will happen because oil prices are half what they used to be. Most analyst don't predict returns to those levels again for the next years so I'm sure HENC & TGC are well aware of that fact as well. Waiting doesn't make sense when you accept that fact.
Considering the license requirement before July, the well program as stipulated in the farm out and all recent developments then it looks like it's now or never to get 5 wells drilled.
The sooner the better...get going HENC & TGC
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