IBAT builds and refines the equipment to each well, remember that, for later on.
Given that and NDA’s, means there is a lot more going on in the background, than you or I will see.
My “guess”, bigger players have not declared any one DLE, And IBAT has not come out and touted any big players. July/August - if that land owner has to sign an NDA we will never know what’s going on until some big announcement by the bigger players. But if the land owner has not signed an NDA, word spreads fast.
If IBAT was getting smaller miners to sign up that would mean that they pushed their focus onto other projects because they were not in selection for the BIGGER projects.
Back to that specific MDLE for specific wells, all of those additional shares being sold is not to pocket the cash, that’s building out some serious equipment, TESTING, and validating those wells against current builds. As the auction price stayed the same or climb a bit, there is only one true OPEX DLE.
Something doesn’t seem right with Teagues approach, he reminds me of the run and gun out the door. Which hurts his brands image and reputation, but eventually they figure it out and come back into the picture years later as a major competitor.
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