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oilsleuth

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oilsleuth

Re: jerseyfish post# 22551

Saturday, 01/28/2012 12:50:07 AM

Saturday, January 28, 2012 12:50:07 AM

Post# of 42999
Smart Win had what was in effect a free option to see the results of drilling of Bellevue #!. If they liked what they saw they could have elected to proceed with a joint venture, if not they could have called in the loan they had made for the drilling and walked away. Smart Win were not prepared to burn their money irretrievably on a 2% long shot. They did not enter into a joint venture with Empire.

Does anyone think they would go into a Joint Venture with EEGC if they thought there was only a 1 to 2% chance of hitting oil.
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