Tony is taking most of the responsiblity for this decision to plug the Three Sisters well. At the time, it was the best decision for all concerned. We could have probably made the well a small, SMALL, producer from a zone up hole, but wanted to test the sand channel. We could have set pipe or plug and come back later. Stable Resources owned 50% of that hole and we wanted to be sure to test the sand channel. Calvin and Tony had been on location for over 30 days and needed a rest. Of all the options, plugging and coming back later was the best option. I personally talked to Tom at midnight and laid out our options and told him that we were going to plug the well.
And for all of the idiots that talked of insider trading, the members of GeoSurveys and Stable Resources lost more on the dip in stock price of EDEX than anyone else. I do not speak for others, but Stable lost more than $500,000 on the dip and we still own every share of EDEX that we owned before the well was drilled. And Stable has over $500,000 invested in the Three Sisters well. So the decision to plub was a $1,000,000 decision as far as Stable is concerned. We do not make decision to drill a well or plug a well based on the share price of EDEX. Decisions are made on what our best chances are to bring in a producer.
Tony has done a great job explaining all of the EDEX and GeoSurveys projects. He has detailed all of our efforts, Stable Resources, EDEX and GeoSurveys and if his insight doesn't help you as an investor in EDEX then you need to sell your shares and buy something else.
I have picked some great partners in Stable. I have picked some great partners in GeoSurveys. But fortunes are not made overnight and these projects will not happen overnight. If you expect to make a million on EDEX in the next day, week, or month, you need to sell and buy lotto tickets.
Clayton Fowler
I beg you not to follow my advice on this or any other stock.
AI
