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Re: roustabout_x post# 939

Sunday, 09/06/2009 9:01:29 PM

Sunday, September 06, 2009 9:01:29 PM

Post# of 55029
Roust - I hope you are just trying a little humour on the board because your reply, technically speaking, is worthless. I don't want any of the board readers to be misled by your analogy.

First off, we're drilling a 17k+ deep well with a downhole steerable mud motor to properly angle away from the cement plug and reestablish the well bore into the correct orientation. This is not a 3/8" Craftsman drill cutting holes in 2x4's.

Each day of delay (and delays are unfortunately part of any high risk / high reward deep wildcat) costs this company several 100 thousand dollars. Dollars that will need to be raised again to further their exploration plans. Further dilution through rights offerings / etc. will be inevitable to re-inject capital into the company and this affects my present holdings in a negative way.

BTW, while I'm on a little bit of a rant, I am not so sure about the expense of the photo op and NASDAQ bell ringing ceremony. I am sure that the travel expenses for all the Zion company personnel were a fairly high cost endeavor. I want the company to get its revenue from hydrocarbon production, not fund raising ventures and promotion. If the intent of the NASDAQ listing and bell ringing was simply to sell more stock to a wider group of investors, then I am not sure about this companies vision.
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