This is definately good news. It appears Mr Grubb has some good connections in the area and these being the first leases he has brought to the table, I expect them to all be producing oil in the next couple months.
This also gives the company a solid reason to raise money now. With the price of oil in triple digits, even small quantities of oil are profitable. I can imagine how many abandoned wells there are in the area? I expect we will see many more leases coming to the company.
Now that they have got their toe in the water, I think they will be swimming soon!
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