KING CITY note: "We commenced a gravity survey and 2D seismic program in August 2009" " We are very encouraged by the results which appear to be indicating the potential for significant hydrocarbon targets"
The second step was overcoming the extensive permits and other agreements to finally get a chance to drill the first well.
No one would spend $600,000 (my estimate), for a well unless there was some real indications of hydrocarbons in my opinion.
note: Besides the quotes from the SEC filing documents, all is my opinion and estimates.
1/2 cent Vancouver penny mooching pirates!
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