Spoke to Hal ... he is emailing you.
The well may be capable of producing BUT it has no allowable and no papers have been filed that would be necessary. Nice setup with storage tanks on site.
Apparently the well had been plugged and re-entered on more than one occasion.
In Oct '09 drillers were sent to deepen the well but they stayed on site a few days and for whatever the reason, they left without doing any work.
Hal feels the well is not producing but might be capable of doing so.
I have to add, doing a small bit of DD on GSRE has me wondering if this is worth spending more time on or if it is just a trader's play. The "new" President does not project well (no pun)and found his letter to shareholders in iBox without substance.
I am NOT a basher. I am looking for undervalued/under recognized opportunties and thru linkage with other iHub people arrived here. Bought a few shares immediately so as to be involved. I want to read more and hope to hear from more posters before I decide to buy more or move along.
Much thanks Ricky for the posting.
Ralph
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