Diversified Oil and Gas Holdings (DVFI)

[Imperial Whazoo]

Hey futrcash -
Thanx for the kind words.
I had to step out of the pit today and returned to trading moments ago. A scan of my positions... nothing needing doing...

While I was out and about, I had another thought: try this on for size....
Suppose the wells in Grimes have been tapped into, as it were, to finance the LOIs that expire in 13 days. This is logical because BIGN has a largely unproven technology and the sellers have dead or dying wells. The sellers will sell if and only if the new technology actually works.

Now suppose that due to illness and/or a simple mistake in judgement, Lancaster wasted too much time before agreeing to give the LOI folks enough of the Grimes action to make the LOI go forward. If so, it seems to me there is a high likelihood that the August 31 LOIs will expire simply because there has been an extension already and the sellers are tired of waiting.

So, what to do? Well, BIGN, thru WW, gets another set of properties to do. A new LOI thro WW. The question is: are they completing these new wells using slotting or not? The press release is really unclear.

Another question is: Suppose Grime #3 completes but Lancaster pulled the trigger too late and #4 comes in too late to meet the Aug 31 deadline? Since there has been one extension already, what will happen to the LOI that expires on Aug 31 if both #3 & #4 fail to get completed? What chance iss there of another extension? Plainly put: what is the relationship between the Aug 31 LOI and a success with both 3 & 4? Is there a relationship?

When you go out there this weekend, see whwther you can get info on these questions.

Also, to go back to my first blog today: How many trained slotting teams are there? Can they work both in Texas & California or are the going to have to bring the guys in from California if hydroslotting is to be used on the WW LOI deal in Texas?

Imperial Whazoo