Oh My God! You have got to be kidding me. That "IS" without a doubt the worst news I have ever heard. Until you bring it up out of the ground, you have "NO" asstets! I have been involved in O&G long enough to know that you sell your well projects by what producing wells around them are doing. The chances are 85-90% that your well will be a dry hole or production so poor that the operating costs override the profits.
No wonder the company would not answer my questions. We got a 10-15% chance of seeing that $3mm. Keep in mind, this mine has been there since 1995 with nobody digging (according to the report).
Oh well. I "am" interested to see how this is gonna work out.
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