The game plan, or hope at this point, is that MNLU CAN finish, complete, and produce the current well, prove the value, and then start drilling new wells on other existing leases (needed to hold those leases), using JV money. Once that happens AEXP should have no trouble attracting money to cover their 20% of any new wells on the remaining AEXP/MNLU leases under the JV. I am currently under the impression MNLU needs to start drilling wells on those leases before too much longer, but I do not have the details. I am told the details are in 3 year old (apx) public documents in the earliest JV and lease term document filings.
So if MNLU gets this well producing, they may move on drilling at the MNLU/AEXP shared leases sooner than most are thinking here, unless the lease holders agree to extensions.
AEXP CEO (based on a phone call I had with him) thinks it will be easy to get MNLU and AEXP funding once the BP #1 well is online. He also believes that fracking this well is NOT a big risk, FWIW, which I found interesting.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
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