Tuesday, March 16, 2010 1:46:27 PM
The project manager is not bonded, he was appointed to oversee the use of funds as they were used by the operator who is bonded, insured and in good standing with Texas as per the Company’s research on the situation. If there is any information contrary such as invalid permits we are very interested in any links or supporting material to help us define any potential problems.
Management does not see any problems with the way funds were used as they have completed the objectives thus far which included connecting the well and allowing it to produce oil and allowing the Operator to complete tests and geological work to determine what our next course of action is. If there are any specific concerns that you wish to be addressed please let us know.
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