it's not just about the oil in vermillion. it's about paying off the convertible debt that has been a millstone around our necks from day one. it's about having the freedom to leverage other assets, like land-based projects with current production, to keep up with administrative costs while we wait for VM to start pumping what might be 2,500 boepd.
we also don't know who will end up sitting on the BoD. i would not be surprised if some of them were from montecito. this should be their company, too. it would be great to have all that profit funneled into WGAS coffers.
this is a huge deal for us on many levels.
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