Yeah, they've been sitting on a boatload of oil and gas for years, but not getting the funds to drill and develop. IMO they are trying to structure a deal that is not going to overly dilute the existing share structure. Should they ever get funding this stock could really start flying imho. I've been holding a decent position forever it seems based on the 3D seismic showing the 20+ Million barrels equiv. on the existing acreage. Sure would be nice to finally see their ship come in! Vic
The Play Our first 3D seismic shoot of 16,600 acres identified six structures in the primary zones of Mississippian and Pennsylvanian, commencing three miles from a 150 Million BOE field of Lisbon, in the Mississippian. We are of the opinion that two structures lie nearby the shoot. We have perfected the 3D science. Three secondary zones also exist with bedrock at 8400'. Were the two primary zones to be loaded up, we feel 40 Million BOE quality would be indicated to our interest. The six structures indicate a possible 19 to 21 drill sites. We believe our 9 years and aggregate $8 million of expenditures in the basin show us where the fairway lies, which could add many new drill sites. We are looking for a partner to shoot and expand our current drilling as well as to significantly expand the size of the play.
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