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Implanting

05/05/22 9:40 AM

#16902 RE: SeaBlue #16900

They were supposed to start drilling at Cameron last year (2021). I remember Dan saying they were going to do it. That never happened.

Seablue, You know talk is cheap, but Dan said either in one of the last two webinars he did that they would be drilling at Cameron this year. I wouldn't bet the farm that it gets done either. Spingpole drilling was supposed to have taken place this year too.

I think our best bet is to listen to what is said at the James Maxwell presentation. They SHOULD be giving some guidance on exactly what they plan on drilling at that time. I also remember Dan saying they want to drill on some of the lease properties we got last year to show potential suitors the district potential at Springpole, so if that's the motive I would think they want to get those results asap.

Without actually speaking to Dan I don't know exactly what their drill motivations are. I don't think Paul knows, he's not even sure when they're doing the webinar.

I still contend cash conservation is their main objective. We still may be 2 years away from the Springpole permitting and the last thing Dan wants to have to do is have more share dilution before then. That would really make him look bad.