Petroleum News (Alaska) had this posted but I do nto subscribe so I could not see the entire article. I and I alone still have hope for Alaska oil because I do not THINK that the money ahs been returned and that CGHI had raised aobut half the cash. So MAYBE, if I guess right (but I don't follow this closely), we will get a PERCENTAGE of the oil. Less than the original 65%. Maybe 33%??? And Escopeta has said they will honor commitments to CGHI. And Escopeta has said " they need to seek ADDITIONAL partners" to raise the money needed. They did NOT say "OTHER PARTNERS" to the best of my knowledge. So this looks MAYBE hopeful if CGHI is still involved and if the leases do not run out Jan 1 2008 if not drilled (maybe they can renew the leases??). Well I will just hold and hope for oil or platinum or take-over or buy-out. NOBODy should buy one share based on this posting - I am fishing for hope - nothing more. Here is the article (imho)
Oil Patch Insider
Shell tries to help Cook Inlet explorers Renaissance, Escopeta
Over the past few months independents Renaissance Alaska and Escopeta Oil have been talking to Shell about using one of the major’s Beaufort Sea drilling units for offshore wells in Alaska’s Cook Inlet basin. Shell has been assembling a fleet of vessels for the Beaufort, including two drilling units....
