Empire is planning to drill the first well at the Bellevue location. Bellevue is at an elevation of about 4000 feet above sea level and will be conducive to drilling in late spring to early summer. ( October to December ), at this time all the snow is gone and the roads are easily traveled.
Between now and then a lot has to happen. We need a rig to drill the well, we need a team to use the drill to drill the well. We also, and a very big also, we need money to pay for all of this.
The company is comprised of many employees that have to do the work and must be financially supported, (money to eat with and support their families, etc.)
Can anyone guess where all this money is coming from? I can! Sure, is arranging $180,000,000 to pay for a bunch of wells and we should hear about that very soon. In the mean time while for that to come through, short term capital is required to fund the purchase of the on order drill rig. Its all in the works so patience is required. This is not a "make a fast buck and run operation". Its a buy and hold for many years operation that will produce on going revenue as more wells are placed on line to deliver oil and gas.
