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InvestorVeritas

02/06/18 10:22 PM

#17511 RE: Atlanta1123 #17507

I'm not sure about the kind of casing that was used or not used in their wells. I confirmed with an ex cardinal employee, the shallow wells being drilled on the Bradford were in the neighborhood of 70K to drill, complete and install equipment.

Therefore, if roughly 2M was invested in the project and 14 new wells were drilled CEGX sucked out the remaining 800K in management fees and left the project with no money. This is one of the main reasons this project failed. No money to complete the water flood ='s minimal oil or no oil was pumped, no one was paid, everyone started filing lawsuits, none of the lawsuits were reported to the Bradford Partners and then the lease disappeared. The End.