Biochemist: One error in perception that I see is that we are not drilling any more until spring.
This, in my understanding, is only for the Sanders lease. The Catahoula Lake area in LaSalle Parish is a completely different lease in a different area. The last PR sub-heading was:
Preparing to Drill Second Well on 1,600 Acres of Prime Oil and Gas Exploration Land
and within the PR:
Based on this week's successful effort, CoreStream is moving immediately to begin the process of exploring the next best geological opportunity within this leasehold.
also:
Chris Rainbolt, CoreStream's CEO, is extremely pleased with this effort and commented, "The interpretation of the core analysis of the State Lease #2 well provides a very strong indication of the consistency of productivity inherent in so many of the existing wells in the Catahoula Lake area, and we believe this success demonstrates that our investment strategies are on target
and to look forward to:
"Because we were able to commit to this project before the end of 2010, this effort will bring new opportunities to CoreStream that would not have been made available had we not moved so quickly on this opportunity. We are extremely pleased to have successfully obtained rights to such propertiesin this very productive area at a time when oil demand only appears to be increasing worldwide."