Xun Energy, Inc. (fka XNRG)

[Carsmax177]

IMO, it makes sense to have stopped the production on Rice well if XNRG was losing money pumping oil. The thing is, they still have that well and access to that oil when prices go back up.

I believe XNRG is facing some of the obstacles mentioned. They have a business drilling and selling oil, a lot of articles talk about the price of oil. Being they have the Rice well, that industry news pertains to them. If oil continues to go down, it effects XNRG. They cannot start production of Rice well #15 until it is profitable, which is the situation applying to other oil companies as can be seen by the change in rig counts.

They do have a business license in Nevada, however I assume that you are referring to the status of the license, in which it is default. Nonetheless, one would need to have a license in order for its status to be in default.

IMO