Frankly, I'm disgusted with what I've seen from FRMC thus far: a misleading stinky pinky. However, the lease they hold is in a good area with good geology that in these economic times would be favorable to a major to drill...hence my query.
Unfortunately I agree with you that to date FRMC has shown no inclination to actually drill as of yet, and are not likely to any time soon on their own. At the same time, as I understand it, they hold the lease debt free...which means FRMC perhaps can survive where tight budget oil companies are folding. Also, I understand that the better more solid oil companies are concentrating on these less expensive shallow drills to maintain oil production at lower costs...leaving their deeper targets for later. So I think FRMC offers a favorable acquisition or JV target. Just IMO only.
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