Pipeline project
Assuming there is a pipeline being built, it would only make sense if there was some oil wells to connect it up to.
From the last 10Q/K reports filed, it looks like the company had almost no land to drill on and mostly just residual royalty rights that were not paying that much, and that was prior to the drop in the price of oil. It is possible that a lot of those oil royalty payments are almost nothing or may have even stopped depending on the well they were part of.
I can't see anyone even attempting a hostile takeover when no one can tell what the company really has for assets or liabilities plus the uncertainty with the lawsuit going on.
louis J. Desy Jr.
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