My point about the rig was that Australian and other international standards differ from US. And making electrical harness modifications in the field is not a good idea.
Thus, they should be made in the factory. And will not be made until cash has been paid for the rig. Indeed, necessary non-standard parts likely not ordered until cash is received. Net: MAJOR delay in arriving in Oz, since no funding is in sight.
There was earlier discussion from the board's optimists about drilling Bellevue on a new GEFCO rig in October, as spring started. NO WAY. I have dollars (and some wallpaper), anyone have doughnuts?
Recent stock market action, including a 15% drop late today, indicates increasing general pessimism about the EEGC's ability to raise the funding required to buy a rig -- which IMO is a bad idea anyway, for a cash poor company with a two prospect opportunity. But maybe no rig available for the necessary short term lease.
8.6 months left on Bellevue, clock is ticking.
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