Lars: Borrow by small companies for last two years was good, until July of this years when the credit got tied up. Bruce blew it in getting the loan. Yes he tied up the money in land. The land is suppose to have heavy assets associated with it. It's just that now the banks aren't giving out loans.
A good example is a Hotel Client I have. Financialy they are solid. well over 3 million in cash. They want to borrow 5 miilion to do some renovation. So they put one million in each of three banks. All three banks turn them down. Banks aren't giving out loans at this time. we have to wait until they do. Even then the game rules have changed and banks aren't going to just give loans without a solid foundation by the company. So I see this as a long wait befor the oil field gets developed.
In mean time they have two working gas wells with 1800 feet of pipe installation still to be completed and connected to hub. For now the gas are being trucked out of the ground. A slow process, but once the hook ups are done, hopefully Bruce will start to use the extra cash flow to start developing the oil filed.
News 
Market Data 
Discover 
