I talked with Claude Bonhomme from Hydroslotter. He is in Sacramento, Ca now... Claude & Lewis Taylor are partners in Hydroslotter Corp .. They invested about a million into the patent rights from some Russians who where in the US trying to sell the technigue and couldn't get anywhere with it.
The Russians where working with them developing the technique until about a week ago when they where deported back to Russia over a tempory green card work permit .. They are trying to work it out now and get the Russians back because they are experts on the proper technique .. They need to train personal and use special tools to do the Hydroslotting .. They are hiring locals drill crews to do the work but they need to be trained .. The 1st well is actually producing better than the PR stated but the down side is its going to take a lot more time than anticipated to get the other 4 wells up and running ... They are now expecting the 4 wells to be up and running around Feb. ...
Its taking some time to get the technique down and train the local drill crews along with the Russian experts being out of town now ....
I didn't ask him but I think Claude Bonhomme may be Jean Bonhomme son ... Claude was really nice to talk with and very smart when it comes to oil & gas drilling ...
He said that Hydroslotter Corp was a completly separate company fron "BIGN" and they where privatly owned, they are thinking of going public someday after they get a lot of success built up with the hydroslotting and a lot of wells done.
This #5 well venture with BIGN is about a 50/50 split and BIGN has more leases in upper Ca., Utah & New Mexico that they are going to be working together on from there ... It sounds like they are behind schedule with the Russians out of town and in order for them to meet the 120 quota of 10 wells a month for 2006 they are going to have to get more equipment and train drilling personal on the technique ..
If God is in favor of Hydroslotter & BIGN the Russians may return with reinforcenments to complete the 2006 revenue projections ......
Shareholders from Ontario to Sacremento are praying the Russians return with reinforcements ..
Russians are known never to let a man down when it comes to labor ....
They get the job done no matter how long it takes ....
The Soviet Labor Union Logo .....
Vegas odds say the Russians return .....
BIGN drilled a bad well from a 50/50 lease bought from Tyche and that is why it went to a .01 .. it took about 9 months from site prep to drill, then get test results and determine to move the drill site .....
The Hydoslotter deal was a winner with 1 well up and revenue coming in, along with the potential of more wells next year ....
This should help pay for Ron Shermans 800 line .....
I am going to talk with Skip Taylor this week ....
I am still wondering how many insiders own shares or if the company is just a holding company for their oil & gas lease test exploration .. They got some brains on the board with Peter Rowe, Ian Colguhoun, Jean Bonhomme .. I wonder if they have a stake in this company or are they just selling exploration leases to it from Tyche & Rubicon with the capital BIGN raises from investors ... I wonder how many shares are outstanding now exactly with a gag order on the Transfer Agent and the web site saying 224M with 400M A/S and who controls the board vote .. Now with the Royal Petro financing there does not seem to be a need for any more dilution but then again do they drill for oil & gas in Canada in the winter .. maybe in New Mexico but long will it take ...
How long before the Russians return ....
How long to train crews to Hydroslot 10 wells a month ...
AI
