Eldorado Exploration Inc (fka EDEP)

[zagdad]

Kingman, if I may - there a few factors that played a role in the timing of each and overall. With NM there was physical infrastruture to cpmplete and sign-offs that needed be completed, plus get a schedule date with the rig operator (who encountered a physical problem with one of his rigs).

The Texas situation is completely unique and not really under EDEX's control as we are a minority JV player. The only factor common between the two was the importance that the PIP key personal were sought to be at each of these inital wells in a new field. That didn't end up being a factor IMO.

Demand for rigs every where is extreme. Just read where the Saudis are pulling rigs from Mexico so must be hestic out there. The good news is that we have a strong team working together and we should get good service as needed going forward.

zagdad