NEP: Hi Bulls, can you pls. ask these 3 questions for me:
1) is the 800K deposit for land use right on the BS for a pending driller or lease acquisition? If it is for another lease, is it one of Mgmt's priorities to acquire a lease outside of its home province in Jilin and PTR in order to diversify itself away from the one-province one-lessor (PTR) situation it is currently in or will any new lease that will drastically increase production do?
2) do we have concrete plans in the near future to continue to drill many new wells on NEP's oilfields in order to offset production decreases due to bad weather and old well depletion (as the poor results of Q3 clearly show) or does Mgmt still plan not to drill many more new wells as in the past 9 months in order to preserve cash for future acquisitions?
3) will Mgmt continue to try to maximize production on the existing Jilin oilfields even beyond Jan 1, 2012 when royalties to PTR go from 20% to 40%?
Thanks.