10% interest in the Garcia #3 well confirmed.
Email (3) confirmation today from the project principal.
Also confirmed is Grid's 10% interest in the subsequent well, plus, if Grid so desires, the approximate 100 wells to follow in the NW Premont project.
2nd email:
"On Fri, May 25, 2012 at 2:23 PM, <xxxxx@aol.com> wrote:
Mr Xxxxx,
Yes sir, I am doing business with a company called xxxxx holdings who passed on a part of their working interest to Grid Petroleum.....we intend to move on location as soon as the rig is available. If Grid is not answering your questions, or if you would like to be put directly in touch with someone who can give you the full scoop on the project and info you from time to time, I suggest you contact Xxxx Xxxx, the owner of Xxxx Xxxx Resources, one of our partners in the project. His email address is above and his phone number in Corpus Christi Texas is 361 288 xxxx. He is a good guy and is used to handling the heavy level of communication that can transpire with partners, and will be putting out a newsletter to the partners in the project. Though he does not make it a habit, I am sure, he would be willing to bend a bit to keep you updated, and get you educated on the geology of the field, and keep you abreast of the projects success, etc. However to avoid insider trading situations, he cannot release information other than background data until the company gets its data and has a chance to release the news, except to other working interest owners in the field.
The Premont Northwest field is quite a field, very unusual in the number of potential zones that can be completed and produced, something I have never seen in my 36 years of being in the oil and gas business.
Thanks for you due diligence and I feel very confident in the field and hope the public company can share in the same success as we will.
Likely since we intend to move a rig on location and likely will intersect the same 9 to 15 zones in the well we are drilling they will have some nice good news for their stockholders.
XXXXXX
Progas"
3rd email in part:
"Also, yes it they do have a right of continued development in the field as do all partners in the project. So they can participate to the extent of their interest in the next well and the next 100 plus wells that it will require to develop the field.
I'm sorry I did not cover that in the first email."
Sincerely,
xxxxx"
