Kingman, glad to see that at least you get the bigger picture.
All this will take time. Here is what I see:
ND: The well should start pumping by the end of Dec. Yes, in my timeline, it will take this long. If it happens by the first of Dec, great! Once pumping, it will take a few weeks to get the crud out of the bottom and begin to show what the real flow will produce. I would look for the BPD after one month to really know. The only present hold up is for some specific piping and a special pump which EDEX is waiting for. As soon as that comes, we can start the completion process.
After this knowledge, new partners will join to drill the remaining 13 wells. Because of Tom's leadership and ability, the wells will not cost EDEX any funds or shares and we will get a free ride for the rest of the way. I would not even guess at the percentage, but if we were to get even a 10% free ride, EDEX will be well on its way. I am hoping for 20%. Time will tell.
Expect this to take time. (I am not in this for the short term as many who want and are demanding a quick buck are snorting about.) The contracts will take some time, and the drills will take some time after that. NP for me. Eventually, the SP will catch up to the reality of what EDEX has and will become.
The same will be true for MESA. We know we have a producing gas field. We still need to drill 5 other wells, in 5 different areas. If the results are consistent, than we can repeat the process. We can then either develop the field ourselves, hire a developer to do it for us or sell and proceed to the other 2 fields to the west of Mesa.
Here is the truth: EDEX was NEVER a short term investment.
Bashers can spit venom all they want, but EVERY knowledgeable investor KNEW that even if we struck gas (and we did) that it would still take at least 2 years for a pipeline. There is no surprise here!!!! 2 Years. All knew this or should have known this before investing. Again, this investment was never a short term, turn a profit stock.
Should that be what anyone is looking for: A quick pop in the SP, go elsewhere. I predict, that should EDEX turn the corner a slow and steady long-term climb.
EDEX will turn a corner with ND and MESA. It will take time. If you can not handle it, go play in another sandbox, as the board doesn't need the p&m that it is constantly getting from those w/o patience.
All of the opinions expressed here, inclusive of all my past, present or future post, are mine, and mine alone. The opinions expressed are not a buy or a sell recommendation. Do your own Due Diligence.
