Matrixx Resource Holdings, Inc.(fka MXXH)

[thisdoesnotwork]

"the Letter Agreement with Sterling calls for an aggregate purchase price of $115,000 as a one -time participation fee for the right and obligation of a 5% participation..."

They paid money - $15K and 2M shares - just to get in the door. Then they paid the 5% cost of the drill - $202,450 (some, $84,450, may still be in A/P). Then, if they deem it comercial, it will cost MXXR another $85,700 to develop for production.

This is all off their SEC filing 7/20/06 Item 2.01 and 2.03
http://biz.yahoo.com/e/060720/mxxr.ob8-k.html

What I still don't know is how long after drilling stops does it take to determine if it's commercial or not? We KNOW drilling will be done next week, but will they know if it's commercial or not by the end of next week? And then how long does it take to finish completion of the well and bring it up to production, assuming it's deemed commercial?

We could be tapping into our next well before we even get this one into production! I'm not saying it's going to take a long time...just that we're drilling again in about 15 days!

We're bound to strike sometime! Like next week!