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Tuesday, September 27, 2011 1:37:13 PM
At this time we have no plans to do any drilling as we are a
convential gas player. no shale play with us and with $4.50 range gas
no one is interested in leasing our minerals to drill $5million + deep
wells. I am at mercy of lenders and have been for years with no note
payments on debt. they are not communicating.
David
yes one of lenders is YA Global/cornell they are converting debt for
equity which they have right to under old loan agreement ( prior to my
involment) since I have come on board we are today down to two
employees, CEO and CFO closed palestine office and terminated off mgr.
wentworth energy ONLY has minerals in Freestone and Anderson counties
texas with gas prices being what they are today and future outlook I
do not see much change for over a year.
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